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Banco BPI S.A. Mar 06
Standard & Poors, March 2006
Abstract
Good positioning in the Portuguese retail banking market; Skilled and stable management team; Sound, above-average, and resilient asset-quality track record; Adequate and fairly consistent operating profitability, even in times of economic stress; and Continuous efficiency improvements. Modest, albeit improving, capital position; A high level of risk concentration by individual borrower; Structural exposure to changes in the valuation of pension liabilities; and Potential volatility of returns from Angola. The ratings on Portugal-based Banco BPI S.A., which were placed on CreditWatch with positive implications on March 14, 2006, are supported by the bank's good position in Portugal, skilled management, good asset-quality track record, and adequate, fairly resilient financial performance. These factors are offset by BPI's still-modest capitalization (albeit better than in the...
Companies mentioned in this report are: Banco BPI S.A.,Allianz SE,Banco Comercial Portugues, S.A.,Caja de Ahorros y Pensiones de Barcelona,Banco Portugues de Investimento S.A.,Banco Santander Totta, 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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