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Bank Hapoalim B.M. Nov 02
Standard & Poors, Nov 2002
Abstract
The ratings on Israel-based Bank Hapoalim B.M. (Hapoalim) reflect the group's dominant market position in Israel's banking and financial services sector, its strong liquidity, and stable performance track record. The ratings are constrained, however, by Standard & Poor's measures of Hapoalim's core capital, which reflect a downward trend through to year-end 2001, as well as the Israeli economy, which is vulnerable to shocks. With a one-third share in Israeli corporate and retail banking, Hapoalim's risk profile and operating performance are closely linked with the fate of its domestic economy. The unabating domestic political situation, the U.S. economic slowdown, and the global slowdown in the technology sector have collectively taken their tolls on the growth in the Israeli economy and deferred...
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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