|
|
 |
|
Viewing report
|
|
|
|
Banco Santander S.A. Jun 07
Standard & Poors, June 2007
Abstract
Consistent financial performance Strategic importance for its parent Important growth in targeted lending activities, mainly in higher margin loans Strong competition in the Mexican banking sector Balance-sheet concentration in the Mexican government and public entities Standard & Poor's Ratings Services' ratings on Banco Santander S.A. reflect the bank's improved stand-alone creditworthiness, good liquidity, low exposure to foreign exchange, strong market positions, and improved financial performance. The ratings are constrained by country risks in Mexico's banking industry, lending risks, and a tough competitive environment. Although Banco Santander is exposed to Mexican country risk, we believe that it may be able to survive the likely economic chaos of a sovereign stress scenario without defaulting because of its good liquidity; the stability of...
Companies mentioned in this report are: Banco Santander (Mexico) S.A. Institucion de Banca Multiple Grupo Financiero Santander,Banco Santander Puerto Rico,Banco Santander S.A.,Santander UK PLC,Banco Espanol de Credito S.A.,Mexico,Banco Santander-Chile S.A.,Santander BanCorp.,Banco Santander (Brasil) S.A.,Santander Consumer Finance, S.A.,Santander Totta SGPS,Banco Santander Totta S.A.
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
|
|
|
|
