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Bank Polska Kasa Opieki S.A. Dec 07
Standard & Poors, Dec 2007
Abstract
Long-term strategic importance to UniCredito Dominant domestic market position Robust capitalization Strong financial profile Still-high though well-covered NPL level Exposure to economic and industry risks in Poland Growing exposure to Poland's yet untested retail lending market Increasing banking sector competition The ratings on Poland-based Bank Polska Kasa Opieki S.A. (Pekao) reflect its long-term importance as a core subsidiary of Italy-based UniCredito Italiano SpA (A+/Stable/A-1), for which it acts as a cornerstone of activities in the strategically key markets of Central and Eastern Europe (CEE). Pekao is poised to benefit financially from Poland's economic upswing through progressive operational and business integration into UniCredito and the bank's dominant domestic market position, bolstered by the end-November 2007 merger with Bank BPH (not rated)....
Companies mentioned in this report are: Bank Polska Kasa Opieki S.A.,UniCredit SpA,UniCredit Bank Austria AG,MedioCredito Centrale SpA,Zagrebacka banka dd,UniCredit Bank AG,UniCredit Bulbank AD,UniCredit Leasing SpA,ATF Bank,Unicredit Luxembourg S.A.,UniCredit Corporate Banking SpA
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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