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BNP PARIBAS ZAO Sep 10
Standard & Poors, Sep 2010
Abstract
Strategically important subsidiary of BNP Paribas. Quality of loan portfolio above the market average, supported by parent's guarantees on a large proportion of loans. Good liquidity, supported by the parent. Strong franchise and significant local expertise in corporate and investment banking. A highly risky and increasingly competitive operating environment. Concentrated loan portfolio. Low business diversification, owing to the focus on the highly competitive and volatile corporate and investment banking business. Loss-making start-up retail division. The ratings on Russia-based bank BNP PARIBAS ZAO reflect its strategic importance for its 100% owner, France-based BNP Paribas (AA/Negative/A-1+), as well as close integration into and operational and financial support from the BNP Paribas group. These strengths are underpinned by the benefits BNP PARIBAS ZAO...
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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