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Bank Industry Risk Analysis: Ireland (Republic of) Dec 03
Standard & Poors, Dec 2003
Abstract
The ratings on Irish domestic banks compare well with those on the top 50 largest banks in Europe, and with those of the larger U.S. regional banks. Profitability is good on an international basis, although the banks are unlikely to maintain the very high rates of profit growth seen in recent years. Since the mid-1990s, Ireland's banking-sector profitability has been boosted by the buoyant economic backdrop (real GNP grew by an average of 6.5% per year from 1993 to 2002), low bad-debt charges, changes in the demographic profile, and operational improvements within the banks. The domestic banking system continues to be characterized by a relatively high level of concentration and ownership stability, even after some structural changes. Competition is tightening,...
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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