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Banco Santander S.A. (Mexico) Jun 09
Standard & Poors, June 2009
Abstract
Good market position Adequate financial performance of the past three years Adequate stand-alone creditworthiness Lending risks in the Mexican banking sector Tough competition Pressures on profitability Standard & Poor's Ratings Services' ratings on Banco Santander S.A. (Mexico) reflect the bank's business profile, adequate stand-alone creditworthiness, and strategic importance to its parent, Banco Santander S.A. (AA/Negative/A-1+). Lending risks in the Mexican banking sector, a very competitive environment, and pressures on profitability balance the ratings. Banco Santander (Mexico)'s market penetration strategy has been successful, reflecting the continued growth of its market share and increasing participation from leaders in the business lines on which the bank is focused. It provides a wide range of retail and corporate banking services. Currently, the bank enjoys...
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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