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BRED - Banque Populaire Sep 04
Standard & Poors, Sep 2004
Abstract
Core member of the Banque Populaire group; Solid franchise in the Paris region; Sound financial profile; and Innovative management and commercial dynamism. Ambitious growth strategy, which translates into organic cost growth; and Possible execution risk related to acquisitions. The rating on BRED-Banque Populaire (BRED) is based on the bank's membership in the Banque Populaire group, as well as on its strong regional franchise and satisfactory financial profile. France's Banque Populaire group enjoys a healthy market franchise, a diversified business profile, adequate profitability, and satisfactory capitalization. The Banque Populaire group--the sixth-largest banking group in France--is composed of 23 regional cooperative banks, of which BRED is the largest; a wholesale banking unit, Natexis Banques Populaires (NBP; A+/Stable/A-1); and Banque F-d-rale des Banques...
Companies mentioned in this report are: BRED-Banque Populaire,Natixis S.A.,Banque Federale des Banques Populaires,Natexis Banques Populaires Capital Trust I
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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