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Bayerische Landesbank Jul 06
Standard & Poors, July 2006
Abstract
Aggregate financial strength and cohesiveness of the Bavarian Savings Banks (BSBs) and Bayerische Landesbank (BayernLB), underpinned by a limited regional protection scheme; The BSBs' superior retail-banking franchise in Bavaria, providing sound asset quality, strong customer deposits funding, and solid earnings; BayernLB's successfully accomplished substantial repositioning and de-risking, and an ongoing material recovery in profitability since 2004; and The BSBs' strong capitalization, including BayernLB's substantial recapitalization to adequate levels. BayernLB's wholesale concentration and volatility risk; BayernLB's modest levels and diversification of sustainable earnings; BayernLB's reliance on wholesale funding; and The BSBs and BayernLB's concentration on difficult domestic markets. The counterparty credit ratings on Germany-based Bayerische Landesbank (BayernLB) are based on its aggregate financial strength and cohesiveness with the Bavarian Savings Banks...
Companies mentioned in this report are: Bayerische Landesbank,State of Bavaria
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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