Summary: Caja de Ahorros y Pensiones de Barcelona Apr 01

Standard & Poors, April 2001

Abstract
The ratings on Caja de Ahorros y Pensiones de Barcelona ("la Caixa") continue to reflect the group's sound financial performance, and increasingly strong market positioning. Profitability and asset quality continue to improve, while liquidity and capital adequacy remain healthy. With (85.3 billion in total consolidated assets at Dec. 31, 2000, "la Caixa" is the largest savings bank in Spain. The group holds a dominant position in its home markets, and is nearing the end of a 10-year branch expansion strategy that has been extended across the nation. Due to its main focus on retail banking activities, with particular concentration on residential mortgage lending, revenues are largely driven by interest earnings. Although these have been affected by a low interest rate...

Companies mentioned in this report are: Caja de Ahorros y Pensiones de Barcelona
Action: Review

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Caja de Ahorros y Pensiones de Barcelona

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