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Banco Santander S.A. (Brazil) May 09
Standard & Poors, May 2009
Abstract
Relevant market position Well-diversified business lines Benefits of belonging to Banco Santander S.A. Deteriorating asset quality in most business lines Profitability under pressure Standard & Poor's Ratings Services' ratings on Banco Santander S.A. (Brazil) reflect the bank's relevant position in the competitive Brazilian banking industry, well-diversified business lines, and strategic importance to its parent Banco Santander S.A.(AA/Negative/A-1+). We also factor into the ratings our view of the potential negative effects of a more adverse financial and economic environment, which led to a worsening in asset-quality indicators and pressure on the bank's profitability. Banco Santander S.A. (Brazil) enjoys a relevant position in Brazil as the fourth-largest bank, behind Itau Unibanco, Bradesco, and state-owned Banco do Brasil. In 2007, Santander acquired ABN...
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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