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Bank Hapoalim B.M. May 06
Standard & Poors, May 2006
Abstract
Strong franchise and leading market position in most segments of Israel's financial services sector; Sound core revenue-generating capacity; Tightened risk management, particularly in credit risk; and An adequate funding profile and a liquid balance sheet. Still high potential volatility in the domestic economy; Pressure by the banking authorities to divest some operations, which results in one-off capital gains but reduces recurring revenues; Asset quality indicators that have improved in recent years but remain unfavorable by international standards; and Modest core capitalization. The ratings on Israel-based Bank Hapoalim B.M. are based on its strong position as one of the two largest players in Israel's highly concentrated banking sector, with one-third of the overall market and a leading position in most domestic...
Companies mentioned in this report are: Bank Hapoalim B.M.,Hapoalim International N.V.
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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