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Banco BPI S.A. May 07
Standard & Poors, May 2007
Abstract
Good position in the Portuguese retail banking market Skilled and stable management team Track record of sound and resilient asset quality, better than that of domestic peers Healthy and improving operating profitability Tight capital management, particularly given structural exposure to changes in pension liability valuations High risk concentration by individual borrower Potential volatility of returns from Angola The ratings on Portugal-based Banco BPI S.A are supported by the bank's good position in Portugal, skilled management, good and better than domestic peers' asset quality track record, and sound and improving financial performance. These factors are offset by BPI's tighter capital management than EU peers (despite improvement in core solvency measures over recent years), structural exposure to changes in the valuation of...
Companies mentioned in this report are: Banco BPI S.A.,Caja de Ahorros y Pensiones de Barcelona,Banco Portugues de Investimento S.A.
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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