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Bank Hapoalim B.M. May 11
Standard & Poors, May 2011
Abstract
Strong banking franchise and leading market position in Israel. Sound funding and liquidity profile. Diversified revenue base, due to its universal banking service offering in the local market. The likelihood of extraordinary government support if necessary. High credit risk profile, characterized by large corporate concentrations in the domestic market. Exposure to an increasing risk of a major correction, brought on by a continued rise in housing prices, which could impair economic growth and harm credit quality. Restricted medium-term growth prospects given the maturity of the domestic market. Moderate capitalization. The ratings on Israel-based Bank Hapoalim B.M. reflect Standard & Poor's Ratings Services' assessment of its strong banking franchise in the State of Israel (foreign currency A/Stable/A-1; local currency AA-/Stable/A-1+), its...
Companies mentioned in this report are: Bank Hapoalim B.M.
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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