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Banking Reforms In West Africa's WAEMU Countries Likely To Boost Large Banking Groups In The Region, Says Report
Standard & Poors, May 2011
Abstract
LONDON (Standard & Poor's) May 17, 2011--Banks in the eight countries within the Western Africa Economic and Monetary Union (WAEMU, or the Union) are looking to increase financial intermediation and broaden their client base. The central bank and regulator are working together to improve the soundness and stability of the financial system. Although Standard & Poor's Ratings Services considers banking sector risk in the Union to be high, we expect the proposed reforms to encourage the spread of stronger governance and better risk management (see 'Banking In The Western Africa Economic And Monetary Union Is High Risk But Banks Are Likely To Consolidate For The Better'). Economic and operating conditions in the Union are still difficult. While banking regimes in...
Action: General Comment
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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