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Bank Industry Risk Analysis: United Kingdom Sep 04
Standard & Poors, Sep 2004
Abstract
Standard & Poor's considers the U.K. banking system to be among the strongest in the world, but the future holds greater challenges and uncertainties, notably in terms of the impact of rising interest rates on highly leveraged consumers and inflated house prices. U.K. bank earnings have long compared well with peers due to enviable profit margins and cost control, and the system's credit profile is further supported by robust asset quality and satisfactory capitalization. The recent operating environment has been highly favorable due to the sustained strength of the U.K. economy, particularly in the household sector, and lenders have prospered from buoyant volume growth and a benign credit environment. However, the U.K. is arguably more exposed to a hard landing...
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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