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Bank Industry Risk Analysis: Austria (Republic Of) May 01
Standard & Poors, May 2001
Abstract
Privatization, consolidation, and refocused strategies on extended home markets have transformed the structure of the Austrian banking sector since 1997. Sustained economic growth at home has led to better credit quality in domestic operations, but expansion into riskier central and eastern European (CEE) markets, in particular by the three largest banking groups-- Bank Austria AG (AA+/Negative/A-1+), Erste Bank der oesterreichischen Sparkassen AG (--/--/A-2), and Raiffeisen Zentralbank -sterreich AG (RZB; --/--/A-1), which represent the commercial, savings, and larger cooperative sectors, respectively--is counterbalancing these domestic credit risk improvements by augmenting operational and legal risks. These three groups are now firmly established as central European banks. Furthermore, there is a trend toward lower levels and quality of core capitalization, therefore weakening financial strength...
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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