Scotiabank Inverlat S.A. May 04

Standard & Poors, May 2004

Abstract
Parent support in terms of management and enhanced credit policies, procedures, and systems mirroring Bank of Nova Scotia's (BNS) global operating methodology Improving overall financial performance Successful strategy in the consumer sector, which has resulted in increasing market penetration Good and experienced management team Midsize bank facing strong competition from other foreign banks with strong market share, and focused in the consumer market and small and medium enterprises (SMEs) Although the bank has reached adequate levels of asset quality, nonperforming assets (NPAs) are still negatively influenced by loans generated at the old bank Low efficiency stemming from still-high operating costs Liability-sensitive balance sheet with a significant negative gap in terms of maturity The ratings are underpinned by the improved financial...

Companies mentioned in this report are: Scotiabank Inverlat, S.A.,The Bank of Nova Scotia,Montreal Trust Co.,Montreal Trust Co. of Canada,Scotiabank Europe PLC,BNS Capital Trust,National Trust Co.,Scotiabank Capital Trust
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

Scotiabank Inverlat, S.A.,The Bank of Nova Scotia,Montreal Trust Co.,Montreal Trust Co. of Canada,Scotiabank Europe PLC,BNS Capital Trust,National Trust Co.,Scotiabank Capital Trust

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