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Banco Santander-Chile S.A. Nov 08
Standard & Poors, Nov 2008
Abstract
Strong franchise and competitive position in the relatively strong Chilean financial system Strong ownership Diversified portfolio mix and strong asset quality Profitable operation Higher competitive pressures in the Chilean banking industry Potential vulnerability to global financial turmoil Standard & Poor's Ratings Services' rating on Banco Santander-Chile S.A. (BSCh) reflects the bank's leading position in the relatively low-risk and competitive Chilean banking industry, its well-diversified business lines, and its good financial risk profile. This includes high profitability, healthy asset quality, and adequate capitalization. The ratings also take into account the bank's ownership and full control by Banco Santander S.A. (AA/Stable/A-1+). These strengths are partially counterbalanced by high competitive pressures in the Chilean banking system and the potential indirect negative effects from...
Companies mentioned in this report are: Banco Santander-Chile S.A.,Banco Santander Puerto Rico,Alliance & Leicester PLC,Banco Santander S.A.,Santander UK PLC,Banco Espanol de Credito S.A.,Santander Central Hispano Issuances Ltd.,Abbey National Capital Trust I ,Santander BanCorp.,Banco Santander (Brasil) S.A.,Santander Consumer Finance, S.A.,Santander Issuances S.A. Unipersonal,Banco Santander Totta S.A.,Banco Santander (Mexico) S.A. Institucion de Banca Multiple Grupo Financiero Santander,Santander PR Capital Trust I
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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