BNP Paribas Feb 08

Standard & Poors, February 2008

Abstract
Extremely strong and highly diversified business profile Satisfactory financial profile, characterized by good asset quality, a diversified earnings stream, and good management of costs Stable management team Moderate risk appetite Exposure to stock market fluctuations, particularly through the large equity portfolio Sizable portfolio of relatively illiquid and complex trading instruments Corporate banking orientation that entails significant credit risk exposure The ratings on French banking group BNP Paribas reflect its strong and highly diversified business profile; sound financial position, characterized by contained risk, satisfactory profitability, adequate capitalization, and high financial flexibility; good management; and moderate risk appetite. BNP Paribas' diversification is among the strongest in the world. The group's extremely diverse core businesses benefit from strong market positions and robust risk...

Companies mentioned in this report are:
- BNP Paribas
- BancWest Corp.
- BNP Paribas Canada
- First Hawaiian Bank
- Bank of the West
- BNP Paribas Personal Finance
- Cardif Assurance Vie
- Pinnacle Insurance PLC
- First Hawaiian Capital I
- BNP U.S. Funding Ltd. Liability Co.
- BancWest Capital I
- Findomestic Banca SpA
- BNP Paribas Personal Finance EAD
- Banca Nazionale del Lavoro SpA
- BNP Paribas Cardif
- Cardif-Assurances Risques Divers

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

- BNP Paribas
- BancWest Corp.
- BNP Paribas Canada
- First Hawaiian Bank
- Bank of the West
- BNP Paribas Personal Finance
- Cardif Assurance Vie
- Pinnacle Insurance PLC
- First Hawaiian Capital I
- BNP U.S. Funding Ltd. Liability Co.
- BancWest Capital I
- Findomestic Banca SpA
- BNP Paribas Personal Finance EAD
- Banca Nazionale del Lavoro SpA
- BNP Paribas Cardif
- Cardif-Assurances Risques Divers

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