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Banco BPI S.A. Feb 05
Standard & Poors, Feb 2005
Abstract
Good positioning in the Portuguese retail banking market, due to a successful growth strategy; Sound and resilient asset quality track record throughout the economic cycle; Adequate and fairly consistent operating profitability, even in times of economic stress; and Continuous efficiency improvements. A modest capital position, particularly after a downward adjustment for pension costs pending recognition; A high level of risk concentration by individual borrower; Market risk arising from long-term equity holdings, which are, however, lower than in previous years; and Still modest, but improving, prospects for economic growth in Portugal. The ratings on Banco BPI S.A. (BPI) are supported by the bank's good positioning in Portugal, skilled management, good asset-quality track record, and adequate, fairly stable financial performance. These factors...
Companies mentioned in this report are: Banco BPI S.A.,Allianz SE,Caixa Geral de Depositos S.A.,Banco Comercial Portugues 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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