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Banque D'Orsay Aug 02
Standard & Poors, Aug 2002
Abstract
The creditworthiness of Banque D'Orsay is based on the bank's sound asset quality, conservative risk management, flexible operating structure, and adequate capitalization. These factors help to offset a degree of volatility in revenues inherent in the bank's own account activities. Wholly owned by Westdeutsche Landesbank Girozentrale (WestLB; AA+/Negative/A-1+), Banque D'Orsay is a specialist niche bank engaged in third-party funds management, proprietary (arbitrage) trading, and private banking. The bank maintains a focused strategy based on offering high-margin interest rate products, both domestically and internationally with the support of WestLB. The success of this strategy has provided for sustained growth in funds under management, even in a very difficult operating environment. The development of private banking and revenue growth from the funds...
Companies mentioned in this report are: Banque d'Orsay,WestLB AG (Unsolicited Ratings),Rheinland-Pfalz Bank,North Rhine-Westphalia (State of),WestLB Finance Curacao N.V.,WestLB Finance Nederland B.V.,WestLB Finance USA Inc.,LRI Landesbank Rheinland-Pfalz International S.A.,NRW.BANK
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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