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Bayerische Hypo- und Vereinsbank AG Jan 04
Standard & Poors, Jan 2004
Abstract
Solid franchise in Germany; Sound market position in Austria and CEE improves geographical diversification; and Restructuring efforts have started to bear fruit. Highly competitive market environment in Germany; HVB's weakened asset quality, capitalization, and earnings; and High level of unrealized losses due to equity investments. The ratings on Bayerische Hypo- und Vereinsbank AG (HVB) reflect its franchise among private and corporate customers in its core markets of Germany, Austria, and Central and Eastern Europe (CEE), which provides the bank with a sound and diversified funding base and geographical coverage. The ratings also reflect HVB's progress in executing a range of strategic and cost-cutting initiatives and a stronger focus on credit-risk management, which are expected to gradually further improve its profitability...
Companies mentioned in this report are: UniCredit Bank AG,UniCredit Bank Austria AG,Hypovereins Finance 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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