Industry Credit Outlook: Outlook For Canadian Banks Remains Stable As Their Business Model Shows Resilience Mar 10
Standard & Poors, March 2010
Abstract
The Canadian banking business model has, in our view, shown itself to be resilient in the face of the global credit dislocation and recessionary conditions. We believe that Canadian banks' generally lower overall risk profile as compared with their global peers', business line diversification, and a relatively more stable residential mortgage market in Canada mitigated to some extent the effects of the global credit crisis on their performance. In our opinion, comparatively conservative balance sheets, relatively prudent risk practices, and important core deposit franchises are likely to continue to provide Canadian banks with a strong foundation. In our view, a prominent potential risk for Canadian banks continues to be the exposures of their U.S. businesses to the fragile U.S. economy,...
Companies mentioned in this report are:
- Royal Bank of Canada
- Toronto-Dominion Bank
- Bank of Montreal
- The Bank of Nova Scotia
- Canadian Imperial Bank of Commerce
- National Bank of Canada
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- Royal Bank of Canada
- Toronto-Dominion Bank
- Bank of Montreal
- The Bank of Nova Scotia
- Canadian Imperial Bank of Commerce
- National Bank of Canada
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