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A Conservative, Retail-Focused Strategy Helps Czech Banks Emerge From Recession May 11
Standard & Poors, May 2011
Abstract
The conservative credit culture and retail-oriented business models of banks in the Czech Republic have helped them emerge more rapidly than expected from the deep recession the country suffered in 2009, in Standard & Poor's Ratings Services view. Their stable customer bases and funding profiles, and minimal presence in volatile business segments such as investment banking, helped them weather the storm without external support from the government or private owners. We now believe that they will further strengthen their financial profiles amid the gradual recovery we expect for the domestic economy in 2011 and 2012. Consequently, we believe they're in a good position to meet upcoming stricter regulatory rules, notably for funding and capital, under Basel III. In the wake...
Companies mentioned in this report are: UniCredit SpA,Czech Republic,Komercni Banka A.S.,Ceska Sporitelna A.S.,Erste Group Bank AG,European Central Bank (Unsolicited Ratings),AXA Bank Europe S.A.,Raiffeisen Bank International AG
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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