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Bendigo and Adelaide Bank Ltd. Jul 11 Product Image

Bendigo and Adelaide Bank Ltd. Jul 11

  • ID: 1857665
  • July 2011
  • Standard & Poors

Sound banking franchise supported by community bank model Good geographic and business diversity Low credit-risk exposure and good capitalization Weak earnings in recent years noting that earnings are on an improving trend Despite above local regional peer's deposit levels, vulnerable to funding challenges should wholesale funding markets become stressed The issuer credit ratings on BEN reflect our view that the bank has a sound business profile underpinned by its sound franchise, good geographic and business diversity, and a relatively low-risk strategy. The bank's low credit-risk focus and good capitalization also supports its credit profile. Moderating these strengths is BEN's indirect exposure to the Australian banking system's material reliance on off-shore wholesale borrowings, similar to many other Australian financial institutions in...

Companies mentioned in this report are:
- Bendigo and Adelaide Bank Ltd.
- Rural Bank Ltd.

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

- Bendigo and Adelaide Bank Ltd.
- Rural Bank Ltd.

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