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Bank Industry Risk Analysis: Italy (Republic of) Mar 06
Standard & Poors, March 2006
Abstract
Widely diversified, stable economy, and EMU member; High banking intermediation; Better growth prospects for retail financial services than in other EU banking systems; and Strong local franchises. Low economic growth potential, with deteriorating competitiveness of small and midsize enterprises; Lending risk structurally higher than the European average; and Fragmented banking market that results in lower sophistication of smaller banks. Banks in the Republic of Italy (AA-/Negative/A-1+) play a pivotal role in the domestic economy. They serve as fulcrums for intermediation of all classes of assets and liabilities, diversifying banking revenues and profitability. Banks in Italy also benefit from operating in one of the world's largest economies, where economic stability is grounded in EMU membership. Despite Italy's sluggish economic growth, the...
Companies mentioned in this report are: Credit Agricole S.A.,The Royal Bank of Scotland N.V.,Banca Nazionale del Lavoro SpA (former),BNP Paribas,UniCredit SpA,Banca Monte dei Paschi di Siena SpA,Capitalia SpA,Intesa Sanpaolo SpA,Banca Popolare dell'Emilia Romagna S.C.,UniCredit Bank AG,Mediobanca SpA,Credito Emiliano SpA,Poste Italiane Group,Banco Popolare di Verona e Novara SCRL,Cassa Depositi e Prestiti SpA,Banca Mediocredito del Friuli-Venezia Giulia SpA,Istituto per il Credito Sportivo,Eurofidi Scpa
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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