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Banco Santander-Chile S.A. Nov 09
Standard & Poors, Nov 2009
Abstract
Good franchise and competitive position; Strong owner; Diversified portfolio mix and adequate asset quality; High operating efficiency and profitability; and Operation in the low-risk Chilean market. High competition in the Chilean banking industry; and Threat to asset quality and profitability from the economic slowdown in Chile. Standard & Poor's Ratings Services' rating on Banco Santander-Chile S.A. (BSCh) mainly reflects the bank's leading position in the relatively low-risk and competitive Chilean banking industry, well-diversified business lines, and sound financial risk profile, including high profitability and adequate asset quality and capitalization. The ratings also take into account the bank's ownership and full control by Banco Santander S.A. (AA/Negative/A-1+), which enhances operating efficiency and financial flexibility. These strengths are partially offset by the...
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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