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Banco Bilbao Vizcaya Argentaria, S.A. Dec 03
Standard & Poors, Dec 2003
Abstract
The ratings on Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) reflect the bank's strong franchise in its core markets, healthy financial performance, and conservative management. BBVA's relatively large exposure to Latin America--albeit lower than in the past--increases its risk profile and adds some volatility to results. BBVA maintains a diversified and strong position in all segments of its core markets--primarily Spain (66% of total assets) and Mexico (18%). Although the group has lost some market share in Spain during the past three years, its franchise remains strong. A more dynamic approach through its cohesive and efficient network is already preventing further market-share deterioration. Operating profitability is healthy, and capital ratios are adequate and have remained stable in the past few years....
Companies mentioned in this report are: Banco Bilbao Vizcaya Argentaria S.A.,Banco de Credito Local de Espana S.A.
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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