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Banco Santander Central Hispano, S.A. May 06
Standard & Poors, May 2006
Abstract
Well-diversified geographic and business profile Solid positions in core markets Strong, albeit aggressive, management and a clear strategic focus Sound operating-profitability track record Tight credit risk management and healthy asset quality in the European businesses High credit risk arising from investments in Latin America Tight capital management The U.K. subsidiary's weaker profitability than that of peers Acquisition-driven stance that carries inherent execution risk The ratings on Spain-based Banco Santander Central Hispano, S.A. are supported by its clear strategic focus and strong management capabilities. The bank has achieved a well-diversified geographic and business profile. It has leading positions in most segments of Spanish banking and strong market shares in the main Latin American financial systems. The bank is successfully pursuing profitable...
Companies mentioned in this report are: Banco Santander S.A.,Santander UK PLC,Banco Espanol de Credito S.A.,Santander Holdings U.S.A Inc.,Santander Consumer Finance, S.A.,Santander Totta SGPS,Banco Santander Totta S.A.
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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