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Findomestic Banca SpA Jan 08

  • ID: 1821706
  • January 2008
  • Standard & Poors

FEATURED COMPANIES

  • BancWest Corp.
  • Bank of the West
  • BNP Paribas
  • BNP Paribas Canada
  • BNP Paribas Cardif
  • Cardif Assurance Vie
  • MORE

Abstract
Leading position in the Italian consumer finance market Strategic importance for and support from 50% shareholder Cetelem Sound credit risk management Business concentration on the Italian consumer finance market, which remains untested by a crisis Narrowing earnings margins Increasing cost of credit risk The ratings on Italy-based Findomestic Banca SpA are supported by its leading business position in the Italian consumer finance market, strategic importance for and support from 50% parent Cetelem (AA+/Stable/A-1+), and satisfactory credit risk management. Constraining the ratings is Findomestic's concentration on a single business line--characterized by high credit risk and increasing competition--which remains untested in a crisis scenario. Also factored into the ratings are the bank's narrowing earnings margins and increasing cost of credit. Cetelem is...

Companies mentioned in this report are:
- Findomestic Banca SpA
- BancWest Corp.
- BNP Paribas
- BNP Paribas Canada
- First Hawaiian Bank
- Bank of the West
- BNP Paribas Personal Finance
- Cardif Assurance Vie
- Pinnacle Insurance PLC
- Banca Nazionale del Lavoro SpA
- BNP Paribas READ MORE >

Note: Product cover images may vary from those shown

- Findomestic Banca SpA
- BancWest Corp.
- BNP Paribas
- BNP Paribas Canada
- First Hawaiian Bank
- Bank of the West
- BNP Paribas Personal Finance
- Cardif Assurance Vie
- Pinnacle Insurance PLC
- Banca Nazionale del Lavoro SpA
- BNP Paribas Cardif
- Cardif-Assurances Risques Divers

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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