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Banco BPI S.A. Dec 10
Standard & Poors, Dec 2010
Abstract
Attractive position in the Portuguese retail banking market. Skilled management team. Better asset quality track record than that of domestic peers. Tough operating environment ahead. Structural exposure to changes in pension valuations. Excessive single-name concentration. Standard & Poor's Ratings Services placed its ratings on Portugal-based Banco BPI S.A. on CreditWatch with negative implications on Dec. 3, 2010, following its CreditWatch placement of the Republic of Portugal (A-/Watch Neg/A-2). The current ratings reflect our opinion of the bank's attractive position in the Portuguese retail banking market, as well as its skilled management team and better asset quality track record than that of its domestic peers. These factors are offset by the tough operating environment ahead that we envisage for Portugal, including...
Companies mentioned in this report are: Banco BPI S.A.,Banco Portugues de Investimento S.A.,Banco BPI Cayman Ltd.
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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