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Banco de Sabadell S.A. Jun 04
Standard & Poors, June 2004
Abstract
Healthy core performance; Strong position in its core business; Conservative management of growth by acquisitions; and Strong asset quality track record throughout the economic cycle. Meaningful exposure to real estate development and construction sectors; Rapidly increased capital leverage, albeit core solvency levels remain sound; and Lower degree of business and geographic diversification than large universal domestic competitors. Sabadell has developed strong expertise and close ties with its customer base--factors that underlie to a great extent its historically sound performance. Its strong revenue generation capacity, which has enabled it to mitigate the impact of the past few years' expansion on its operating efficiency levels, results mainly from the bank's long focus on small and midsize enterprises (SMEs) in Catalonia. This is...
Companies mentioned in this report are: Banco de Sabadell 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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