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BRED - Banque Populaire Nov 05
Standard & Poors, Nov 2005
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 contributes to a high cost-to-income ratio; Possible execution risk related to acquisitions; and Moderate geographic diversification by national standards, and limited overall market share, compensated by belonging to Banque Populaire group. 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 sound financial profile. France's Banque Populaire group enjoys a healthy market franchise, a diversified business profile, adequate profitability, and satisfactory capitalization. Offsetting these factors is BRED's ambitious growth strategy, which translates into organic cost growth,...
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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