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ABN AMRO Bank N.V. Mar 10
Standard & Poors, March 2010
Abstract
Full ownership and support by the Dutch state. Good domestic market position. Moderate risk profile given limited market-based activities. Adequate funding and liquidity. Sound capital position. Execution risk and operational challenge to establish itself as an independent bank and to merge with Fortis Bank Nederland N.V. Moderate business and geographic diversification. Pressured earnings from the squeezed net interest margin and credit costs, plus demerger and integration costs. The ratings on Netherlands-based and newly established ABN AMRO Bank N.V. (ABN AMRO) principally reflect Standard & Poor's Ratings Services' view of the bank's indirect equity ownership by the State of The Netherlands (AAA/Stable/A-1+), combined with its good market position in Dutch banking, moderate credit risk profile, adequate funding position, and sound capital....
Companies mentioned in this report are: ABN AMRO Bank N.V.
Action: Review
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: Full Analysis
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