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Australian Banks--Withstanding The Consolidation Trend--But For How Long? May 99
Standard & Poors, May 1999
Abstract
Although rationalization of Australia's domestic banking system remains hotly debated, significant changes appear inevitable in the medium term. The global trend toward financial sector consolidation and increased financial sector disintermediation has not gone unnoticed within the Australian market, and all financial institutions are, to varying degrees, seeking ways to increasingly diversify geographically and by business lines. The government has reiterated its opposition to a merger among Australia's four-largest nationally operating banks, but has not ruled out the possibility of a merger with one of Australia's larger insurance companies, or acquisition by a foreign bank. These banks have the greatest financial flexibility to adapt to new competitive pressures, and each has been rumored to be investigating options, other than by organic...
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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