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Banco Bilbao Vizcaya Argentaria, S.A. Mar 03
Standard & Poors, March 2003
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. With its domestic merger completed, BBVA maintains a diversified and strong position in all segments of Spanish banking. Although the group has lost some market share during the past two years, it has achieved a cohesive and efficient network that will be able to continue growing. BBVA's strong domestic base has led it to invest heavily in Latin America in the past few years. Total accumulated investment in the region, excluding Brazil, reached $8.7 billion at year-end 2002, with the book value representing 36% of the bank's adjusted...
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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