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Banco Bilbao Vizcaya Argentaria, S.A. Mar 09
Standard & Poors, March 2009
Abstract
Strong market positions in almost all markets where the bank operates, particularly Spain and Mexico Conservative management Sound credit risk management Above-average operating profitability Higher-than-peer reliance on emerging markets Asset quality that is set to deteriorate Lower diversification than for other large European peers Challenge of developing a U.S. franchise in a weak market The ratings on Spain-based Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) reflect our view of the bank's strong franchise in its core markets, above-average financial performance, and conservative management. In our opinion, its good performance and credit risk management somewhat offset its higher reliance on emerging markets, deteriorating asset quality, and lower degree of diversification than for some international peers. BBVA enjoys strong operating profitability across all...
Companies mentioned in this report are: Banco Bilbao Vizcaya Argentaria S.A.,BBVA USA Bancshares Inc.,Compass Bank,Compass Loan Holdings Inc.,Banco Bilbao Vizcaya Argentaria Uruguay,Banco Bilbao Vizcaya Argentaria Puerto Rico,BBVA Panama S.A. y Subsidiarias
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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