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Bank Industry Risk Analysis: Germany Sep 99
Standard & Poors, Sep 1999
Abstract
Standard & Poor's expects that the speed of structural changes in all segments of the German banking sector will accelerate in the next twelve months. Despite being widely labeled as highly fragmented, overbanked, and overbranched, domestic consolidation has been very slow in comparison with many other European countries, and was mainly restricted to mergers among smaller retail cooperative or savings banks. Intensifying competition and the low interest rate environment have put increasing pressure on most banks' profit margins, especially in their retail banking operations. However, rigid labor laws, the strong influence of politicians and labor unions, an often underdeveloped focus on profitability, and the desire to remain independent have been major obstacles to any significant improvement of the banks' cost...
Companies mentioned in this report are: Deutsche Bank AG,Landesbank Hessen-Thueringen Girozentrale,Norddeutsche Landesbank Girozentrale (Unsolicited Ratings),WestLB AG (Unsolicited Ratings),Germany (Federal Republic of) (Unsolicited Ratings),ING BHF-Bank AG,ING Groep N.V.,DekaBank Deutsche Girozentrale,Depfa Deutsche Pfandbriefbank AG,Westfaelische Hypothekenbank AG,Dexia Kommunalbank Deutschland AG,Deutsche Hypothekenbank AG Hannover Berlin,Deutsche Pfandbriefbank AG,UniCredit Bank AG,Deutsche Genossenschafts-Hypothekenbank AG,Eurohypo AG-Europaeische Hypothekenbank der Deutschen Bank
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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