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Bank Industry Risk Analysis: Hungary (Republic of) Mar 04
Standard & Poors, March 2004
Abstract
The Hungarian banking system remains one of the more sound and advanced within Central and Eastern Europe (CEE). The creditworthiness of the sector is now good, and contrasts sharply with the situation a decade ago. Nevertheless, economic risks could put pressure on the banking system--particularly its asset quality. A very high level of private, predominantly foreign, ownership has promoted modernization, improved risk management, and engendered strongly rising profitability over the past two years. The virtual completion of the state's privatization program has increased concentration, and, together with consolidation, has created strong universal banks and financial groups, and increased competition. Nevertheless, economic risks--particularly the volatility in interest rates in the past couple of years and financial market turmoil toward year-end 2003--could...
Companies mentioned in this report are: Dresdner Bank AG,The Royal Bank of Scotland N.V.,BNP Paribas,Bayerische Landesbank,Hungary,Hungary (National Bank of),OTP Bank PLC,DZ BANK AG Deutsche Zentral-Genossenschaftsbank ,Central-European International Bank Ltd. (Unsolicited Ratings),KBC Bank N.V.,Erste Group Bank AG,OTP - Garancia Biztosito Rt (Unsolicited Ratings)
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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