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Banco General S.A. Mar 09
Standard & Poors, March 2009
Abstract
Strong market position in Panama Adequate asset quality and profitability Adequate capital measures Concentration in the residential mortgage and construction sectors Increasing loan-to-deposit ratio Strong competition in the Panamanian banking system Standard & Poor's Ratings Services' rating on Banco General S.A. reflects the bank's strong market position, good asset quality and profitability, and adequate capital measures. The rating is constrained by the bank's concentration in the residential mortgage and construction sectors, its increasing loan-to-deposit ratio, and strong competition in the Panamanian banking system. The ratings on Banco General are higher than those on the Republic of Panama (BB+/Stable/B) because of our opinion that in countries with dollarized currencies, sovereign interference risk is lower than sovereign default risk. Banco General is...
Companies mentioned in this report are: Banco General S.A.,Banco Continental 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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