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Bank Industry Risk Analysis: Federative Republic of Brazil Nov 04
Standard & Poors, Nov 2004
Abstract
The Federative Republic of Brazil suffers from chronic underutilization of its banking system. The country has some of the most resilient banks in the region, very profitable and highly automated. In addition, the Brazilian financial system benefits from some important features of the Brazilian economy, namely its size, diversity, and growth potential. Nevertheless, the volatile operating environment continues to pose significant challenges, and a large portion of profits derives, not from banking activities, but from holdings of government securities. In Standard & Poor's Ratings Services' view, the banking industry remains highly influenced by the developments in the sovereign credit risk, including the direct risk in the form of marketable securities. The banking industry has exhibited improvements in the quality of...
Companies mentioned in this report are: Banco Safra S.A.,Banco Bradesco S.A.,Unibanco-Uniao de Bancos Brasileiros, S.A.,Banco Citibank S.A.,Itau Unibanco Holding S.A.,HSBC Bank Brasil S.A.,Banco Santander Brasil S.A.,Banco Votorantim S.A.,Banco Santos S.A.,Banco Mercantil Do Brasil S.A.
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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