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Austrian Banks Increasingly Offset Weak Domestic Returns in CEE, Report Says Oct 04
Standard & Poors, Oct 2004
Abstract
FRANKFURT (Standard & Poor's) Oct 29, 2004--The Austrian banking system ranks among the most competitive in Europe due to the very large number of banks, most of which are not owned by private shareholders demanding adequate returns on their capital, Standard & Poor's said in a report published today. Consequently, average profitability levels in the home market continue to compare unfavorably with other systems. However, in contrast to Germany, Austrian banks have been strong enough to withstand a period of sluggish economic growth without major disruptions due mainly to the absence of deflating asset price bubbles in real estate markets, lower exposure to equity markets, and lower credit losses in opportunistic international lending. 'The pioneer work of the largest institutions...
Companies mentioned in this report are: Oesterreichische Kontrollbank AG,UniCredit Bank Austria AG,Raiffeisen Zentralbank Oesterreich AG,Erste Group Bank AG,HYPO NOE Gruppe Bank AG,HYPO TIROL BANK AG,Oberoesterreichische Landesbank AG,Vorarlberger Landes-Versicherung VaG,Landes-Hypothekenbank Steiermark AG,Hypo Alpe-Adria-Bank International AG
Action: General Comment
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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