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ASLK-Bank N.V./CGER-Banque S.A. Feb 99
Standard & Poors, Feb 1999
Abstract
The ratings of ASLK-Bank N.V./CGER-Banque S.A. (ASLK-CGER Bank) and related entities reflect its strong position in the Belgian retail banking market, low-risk asset profile, and adequate financial strength. ASLK-CGER Bank was the fifth-largest credit institution in the country at mid-year 1998. Formerly a state savings bank, it still has the largest market share of any Belgian bank in mortgage loans and saving accounts. In September 1995, ASLK-CGER Bank acquired another former state credit institution, Cr-dit - l'Industrie, which specialized in long-term investment loans. ASLK-CGER Bank has a high-quality loan portfolio, with mortgages and loans to or guaranteed by the public sector representing more than three-fourths of the total. The bank experienced certain asset-quality problems in the early 1990s stemming primarily...
Companies mentioned in this report are: ASLK-CGER Bank,ASLK-CGER Finance N.V.,ASLK-CGER North America Inc.,Fortis IFICO
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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