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Banco Bilbao Vizcaya Argentaria, S.A. Mar 07
Standard & Poors, March 2007
Abstract
Strong positions in almost all markets where the bank operates, particularly in Spain and Mexico Consistent and prudent strategy Sound credit risk management Above-average operating profitability Exposure to high economic risk through Latin American subsidiaries Integration risk from recent acquisitions An equity portfolio that, although now smaller, increases equity and concentration risks The ratings on Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) reflect the bank's strong franchise in its core markets, above-average financial performance, and conservative management. They also take into account the bank's higher reliance on emerging markets compared with international peers, and integration risk from recent acquisitions. BBVA enjoys sound operating profitability, owing to the successful creation of solid franchises in different countries, where it has diversified and strong...
Companies mentioned in this report are: Banco Bilbao Vizcaya Argentaria S.A.,Banco de Credito Local de Espana S.A.,BBVA Bancomer 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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