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Banco Bilbao Vizcaya Argentaria S.A. Apr 02
Standard & Poors, April 2002
Abstract
The ratings on Banco Bilbao Vizcaya Argentaria S.A. (BBVA) reflect the balance between the bank's strong domestic franchise and financial profile, and the heightened risk resulting from its exposure to Latin America. BBVA has in the past few years invested heavily in Latin America, where the group has reached a 10% market share in customer deposits--with a noticeably strong position in Mexico--and 28.5% in pension fund management. BBVA's total investment in Latin America represents about one-half of the bank's adjusted core equity--excluding preferred stock. This expansion has been possible as a result of BBVA's strong and diversified position in all segments of Spanish banking, which continues to be its anchor, with market shares in all segments of Spanish banking of...
Companies mentioned in this report are: Banco Bilbao Vizcaya Argentaria S.A.,BBVA Global Finance Ltd.,Banco de Credito Local de Espana S.A.,BBVA Capital Funding Ltd.,BCL International Finance Ltd.
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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