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Summary: Scotiabank Inverlat S.A. Feb 11 Product Image

Summary: Scotiabank Inverlat S.A. Feb 11

  • Published: February 2011
  • Standard & Poors

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  • Scotiabank Inverlat, S.A.
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Abstract
Standard & Poor's Ratings Services' ratings on Scotiabank Inverlat S.A. reflect that a well-diversified loan portfolio and a strong presence in the retail segment support the Mexico-based bank's good business profile. Further supporting the ratings are its adequate financial profile and its status as a strategically important subsidiary of The Bank of Nova Scotia (BNS; AA-/Stable/A-1+), according to our group methodology, also support the ratings. However, deteriorating asset quality and a mismatch on the balance sheet constrain the ratings. Scotiabank's good business profile reflects its strong position in the Mexican banking industry. As of September 2010, Scotiabank is the fifth-largest player in the retail segment--consumer loans and mortgages--serving that country. Its diversified loan portfolio is a consequence of its focus...

Companies mentioned in this report are: Scotiabank Inverlat, S.A.
Action: Review

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Scotiabank Inverlat, S.A.

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