Landesbank Hessen-Thueringen Girozentrale/Sparkassen-Finanzgruppe Hessen-Thueringen Jul 08

  • ID: 1789355
  • July 2008
  • Standard & Poors
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  • Frankfurter Sparkasse
  • Kreissparkasse Gotha
  • Kyffhaeusersparkasse
  • Sparkasse Dillenburg
  • Sparkasse Hanau
  • Sparkasse Sonneberg
  • MORE

Sector cohesiveness and limited protection scheme Sound sector capitalization Strong retail market penetration in Hesse and Thuringia Stable retail deposit base of the savings banks Prudent underwriting standards Weaknesses in high-margin retail growth products Savings banks' high and inflexible cost base exposed to margin erosion Lack of adequate incentives to improve profitability Helaba's modest profitability levels and reliance on wholesale funding, partly due to its role as wholesale central bank The ratings on the members of Germany's Sparkassen-Finanzgruppe Hessen-Thueringen (SFHT), which includes the 50 savings banks in the states of Hesse (AA/Stable/A-1+) and Thuringia (not rated) and their central institution Landesbank Hessen-Thueringen Girozentrale (Helaba), are based on Standard & Poor's Ratings Services view of SFHT as a single, cohesive economic...

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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- Landesbank Hessen-Thueringen Girozentrale
- Hesse (State of)
- Helaba Dublin Landesbank Hessen-Thueringen International
- Sparkasse Altenburger Land
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- Sparkasse Dillenburg
- Kreissparkasse Eichsfeld
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- Kreissparkasse Gotha
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- Kreissparkasse Hildburghausen
- Sparkasse Jena-Saale-Holzland
- Kasseler Sparkasse
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- Sparkasse Werra-Meissner
- Sparkasse Wetzlar

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