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Banco Santander S.A. (Mexico) Dec 08
Standard & Poors, Dec 2008
Abstract
Consistent financial performance Strategic importance for its parent Adequate business profile Strong competition in the Mexican banking sector Lending risks in the Mexican banking sector, particularly consumer loans Increasing reliance on market funding Standard & Poor's Ratings Services' ratings on Banco Santander S.A. (Mexico) reflect the bank's adequate stand-alone creditworthiness, strong business profile, low exposure to foreign exchange, and strategic importance to its parent Banco Santander S.A. A very competitive environment, an increasing loan-to-deposit ratio, and lending risks in the Mexican banking sector balance the ratings. Banco Santander'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. Despite the strong...
Companies mentioned in this report are: Banco Santander (Mexico) S.A. Institucion de Banca Multiple Grupo Financiero Santander,Banco Santander Puerto Rico,Alliance & Leicester PLC,Banco Santander S.A.,Santander UK PLC,Banco Espanol de Credito S.A.,Santander Central Hispano Issuances Ltd.,Banco Santander-Chile S.A.,Abbey National Capital Trust I ,Santander BanCorp.,Banco Santander (Brasil) S.A.,Santander Consumer Finance, S.A.,Santander Issuances S.A. Unipersonal,Banco Santander Totta S.A.,Santander PR Capital Trust I
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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