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BNP PARIBAS ZAO Dec 09
Standard & Poors, Dec 2009
Abstract
Strategically important subsidiary of BNP Paribas. Guarantees on a large proportion of loans, provided by the parent, mitigate credit risk. Good liquidity, with the parent's support. Strong franchise in corporate and investment banking. A highly risky operating environment. Weak capitalization. Concentrated loan portfolio. Heavy reliance on noncore deposits and funding from the parent. Low business diversification, owing to its focus on the highly competitive and volatile wholesale banking business. 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 receives from its parent, including ongoing...
Companies mentioned in this report are: BNP PARIBAS ZAO,BNP Paribas
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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