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Bank Industry Risk Analysis: Portugal May 00
Standard & Poors, May 2000
Abstract
The Portuguese banking system has experienced profound change in the past decade. Deregulation and privatization have led to increased competition and consolidation, which has radically changed the dynamics and structure of Portuguese banking. Once backward and inefficient, Portuguese banks now resemble those of other European countries in terms of product range, innovation, and sophistication. The rapid changes brought about by deregulation have been managed smoothly, without creating major stress in the Portuguese financial system, and the recession of 1993-1994, which came in the wake of deregulation, did not cause any casualty of importance. Furthermore, the financial system's asset quality has been strengthened significantly since the beginning of privatization in 1989, with the loan portfolios of privatized banks being purged by...
Companies mentioned in this report are: Credit Lyonnais,Banco Santander S.A.,Banco Pinto & Sotto Mayor, S.A.,Banco de Portugal,Portugal Telecom SGPS S.A.,EDP - Energias de Portugal, S.A.
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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