|
|
 |
|
Viewing report
|
|
|
|
Banco Espirito Santo S.A. Jun 05
Standard & Poors, June 2005
Abstract
The ratings on the Republic of Portugal were misstated in the Sovereign Rating section of this article when originally published earlier today. A corrected version of the article follows. Good position and strong competitive edge in Portuguese retail banking; Adequate core profitability, partially driven by excellent operating efficiency; More balanced funding profile; and Resilient asset quality. Modest core solvency levels by European standards; Market risk arising from long-term equity holdings (similar to the situation for other Portuguese players) and a higher proportion of market-related (trading) income than peers; and Still moderate, albeit improving, economic prospects for Portugal. Banco Espirito Santo, S.A. (BES) enjoys a strong position as the third-largest bank in the highly competitive and concentrated Portuguese banking market, thanks...
Companies mentioned in this report are: Banco Espirito Santo S.A.,Credit Agricole S.A.,BES Finance Ltd.,Banco Espirito Santo de Investimento S.A.,Espirito Santo Investment PLC
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
|
|
|
|
