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Australia's Major Banks Maintain Strength--But Competitive Pressures Intensify Feb 00
Standard & Poors, Feb 2000
Abstract
MELBOURNE (Standard & Poor's CreditWire) Feb. 10, 2000-Standard & Poor's regards Australia's major banks--Commonwealth Bank of Australia (CBA), Westpac Banking Corp.Westpac), Australia and New Zealand Banking Group Ltd.(ANZ), and the National Australia Bank Ltd.(NAB)--as among the world's strongest financial institutions. Increasing financial sector disintermediation, globalization, and the appearance of strong nonbank competitors that are plaguing banking systems in other markets, however, will intensify the competitive pressures being faced by Australia's major banks. The possibility of bank mergers and financial sector consolidation, combined with more aggressive management of bank capital, remain the main rating sensitivities for these banks. 'In an environment where global banking sector risk has increased, leading to fewer private-sector banks rated in the double-'A' and above categories, the...
Companies mentioned in this report are: National Australia Bank Ltd.,Australia and New Zealand Banking Group Ltd.,Westpac Banking Corp.,Commonwealth Bank of Australia
Action: Subscribers only
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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