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Banco Sabadell S.A. Feb 02
Standard & Poors, Feb 2002
Abstract
The ratings on Banco Sabadell, S.A. (Sabadell) are underpinned by the bank's healthy financial profile and strong position in its core business. Offsetting these positive elements are a lower degree of business and geographic diversification, and a less commanding commercial profile than larger domestic competitors. Sabadell has developed strong expertise and close ties with its customer base--factors that underlie to a great extent its sound performance. This is a result of the bank's historical focus on small and midsize businesses in Catalonia (AA/Stable/--), one of the richest and most economically diversified autonomous communities (regions) in Spain. Despite Sabadell's expansion process, encompassing organic growth and acquisition of small commercial banks outside its core market, Catalonia still accounts for almost 45% of...
Companies mentioned in this report are: Banco de Sabadell S.A.,Sabadell International Capital Ltd.,Sabadell International Finance Ltd.
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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