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AXA Bank Belgium SA Jan 07
Standard & Poors, Jan 2007
Abstract
Membership in the AXA insurance group Significant market position in core mortgage-lending business Innovative strategy and professional management Strong asset quality Limited business diversification Moderate profitability Exposure to interest rate movements Pressure on capital The ratings on AXA Bank Belgium SA (ABB) reflect its status as a core member of the AXA insurance group (core operating subsidiaries rated AA-/Stable/--). Additional rating factors are the bank's successful commercial strategy and professional management, significant market share in its main mortgage-lending activity, and strong asset quality. Offsetting these factors are the bank's limited size in the highly competitive Belgian market, modest profitability, exposure to market risk, and pressured capital ratios. ABB is a core component of the AXA group's strategy in Belgium of...
Companies mentioned in this report are: AXA Bank Europe S.A.,AXA,AXA Belgium
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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