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BBVA - Banco Ganadero S.A. Sep 01
Standard & Poors, Sep 2001
Abstract
BBVA-Banco Ganadero (Ganadero), like other Colombian banks, has suffered from asset quality problems related to a poor economic environment. Aided by a capital injection from its parent, Banco Bilbao Vizcaya Argentaria (BBVA; AA-/Stable/A-1+), Ganadero is aggressively cleaning up its loan portfolio and is expected to return to profitability this year. The rating benefits from the bank's improving financial position, and expected continuing support from BBVA. It is constrained, however, by the environment in the country, characterized by economic slowdown, high unemployment rates, increased violence, and a worsening external liquidity position. Ganadero's new management has been able to expand the network, improve branch productivity, and install a better technological platform, while improving asset quality by strengthening reserve coverage. The bank reported...
Companies mentioned in this report are: BBVA - Banco Ganadero S.A.,BBVA Global Finance Ltd.,BBVA Capital Funding Ltd.,Banco Bilbao Vizcaya Argentaria 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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