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Banco Santander (Brasil) S.A. Apr 11
Standard & Poors, April 2011
Abstract
Strong ownership and strong brand reputation. Significant market position as the fourth-largest retail bank in Brazil. High liquidity and good financial flexibility. Relatively high level of nonperforming loans. High competitive pressures in the Brazilian banking sector. Standard & Poor's Ratings Services' ratings on Banco Santander (Brasil) S.A. mainly reflect the bank's strong ownership and brand reputation, relatively strong market position because of its large and diversified branch network, high liquidity, good financial flexibility, and the positive prospects for lending growth in Brazil. The bank's high nonperforming loans (NPLs) and high competitive pressures in the Brazilian banking sector partially offset these strengths. Spain-based Banco Santander S.A. (AA/Negative/A-1+) owns 81.4% of Banco Santander Brasil, and we consider it a core subsidiary, which...
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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