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Basler Kantonalbank Aug 11
Standard & Poors, Aug 2011
Abstract
'Integral' link with and 'very important' role for the Canton of Basel-City through full ownership and statutory guarantee. Very strong customer franchise in home region and focus on generally low-risk businesses. Very strong financial profile, especially with respect to capital, liquidity, and loan book quality. Canton's very good budgetary performance. Lower profitability and quality of earnings of majority-owned subsidiary Bank Coop. Higher concentration risk by single names compared with most cantonal banks. Limited growth prospects in the already saturated Basel-City banking market. The ratings on Switzerland-based public-law institution Basler Kantonalbank (BKB) are at the same level as those of BKB's sole owner and guarantor, the Swiss Canton of Basel-City (Basel-City, AA+/Stable/A-1+). In Standard & Poor's Ratings Services' view, there is...
Companies mentioned in this report are: Basler Kantonalbank,Basel-City (Canton of)
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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