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Bank Industry Risk Analysis: United Kingdom Jul 03
Standard & Poors, July 2003
Abstract
Standard & Poor's continues to regard the U.K. banking system as healthy, and as among the strongest worldwide. The U.K. banks' diverse revenue streams, good cost control, and satisfactory overall asset quality support this view. Moreover, although economic growth is currently below trend, the U.K. economy has proved more resilient than most peers. Nevertheless, Standard & Poor's is concerned that it will be difficult for banks to sustain core revenue growth, and notes the potential damaging impact of rising household leverage. U.K. banks that own life assurance companies are also affected by the challenges facing the U.K. life assurance sector, to which Standard & Poor's has assigned a negative outlook. U.K. banks continue to benefit from solid domestic market returns....
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.
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