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Bayerische Landesbank Jul 05
Standard & Poors, July 2005
Abstract
Aggregate financial strength and cohesiveness of the Bavarian Savings Banks (BSB) and Bayerische Landesbank (BayernLB); Cooperation and bilateral agreements with savings banks, underpinned by a limited protection scheme between BSB and BayernLB; and Accelerated successful achievements in BayernLB's substantial repositioning and risk-downsizing program, and a substantial profitability recovery in 2004. BayernLB's weaker financial and risk profile compared with the BSB; BayernLB's remaining concentration risk in the loan portfolio, and moderate level and low diversity of earnings; and BayernLB's reliance on wholesale funding. The unguaranteed counterparty credit ratings on Bayerische Landesbank's (BayernLB) are based on the aggregate financial strength and cohesiveness of BayernLB and its financially stronger 50% owner the Bavarian Savings Banks (BSB). Standard & Poor's views the two as...
Companies mentioned in this report are: Bayerische Landesbank,State of Bavaria,Bayerische Landesbank U.S. Finance Inc.,MKB Bank ZRT (Unsolicited Ratings)
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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