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Summary: Banco de Galicia y Buenos Aires S.A.
Standard & Poors, May 2011
Abstract
Standard & Poor's Ratings Services' ratings on Banco de sGalicia y Buenos Aires S.A. mainly reflect the relatively high economic and political risks in Argentina. They also incorporate the bank's weak capitalization and operating efficiency. Its strong franchise and good competitive position in the Argentine financial system partially offset these risks. Banco Galicia's relatively low nonperforming loans (NPLs), diversified portfolio mix, and low-cost funding profile also support the ratings. The bank is exposed to the risks inherent to the Argentine economy, in which high inflation has shortened the planning horizon for economic agents in the country. During 2010, Banco Galicia's loans to the private sector increased by a high 56.6%, reaching about Argentine pesos (ARP) 22 billion ($5.6 billion at...
Companies mentioned in this report are: Banco de Galicia y Buenos Aires S.A.
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
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