Summary: BBVA Bancomer S.A. Dec 09
- ID: 1869473
- December 2009
- Standard & Poors
Standard & Poor's Rating Services' ratings on BBVA Bancomer S.A. reflect the bank's adequate stand-alone creditworthiness, notably its strong market position, its good recurrent profitability, and its good financial performance over the past three years. The ratings also reflect the strategic importance of BBVA Bancomer to its parent, Banco Bilbao Vizcaya Argentaria S.A. (BBVA; 'AA/Negative/A-1+'). Offsetting these factors are the less-favorable economic environment and increasing credit risks in the Mexican banking sector, resulting in asset quality deterioration, a higher loan-to-deposit ratio than its main peers, and lower adjusted capitalization levels. BBVA Bancomer benefits from the strong franchise value it has built. It has the largest branch network and one of the largest client bases in Mexico, with a nearly 27%...
Companies mentioned in this report are:
- BBVA Bancomer S.A.
- Banco Bilbao Vizcaya Argentaria S.A.
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