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Australian Major Banks - Standing Tall Mar 00
Standard & Poors, March 2000
Abstract
The major Australian banks- National Australia Bank Ltd. (NAB, AA/Stable/A-1+), Commonwealth Bank of Australia (CBA, AA-/Stable/A-1+), Westpac Banking Corp. (Westpac, AA-/Stable/A-1+), and Australia and New Zealand Banking Group Ltd. (ANZ, AA-/Stable/A-1+)-again performed strongly in fiscal 1999, benefiting from a favorable economic environment and their renewed dominance over the smaller regional banks and nonbank providers. Asset quality in the sector is very good by international standards, improving further in fiscal 1999 as the market shrugged off the lingering effects of volatility in regional economies. In conjunction with the continued gains in operating efficiency and improving revenue diversity, this supported stronger profitability across the sector. Given the relatively small size of the domestic market and its competitive dynamics, it is likely that...
Companies mentioned in this report are: National Australia Bank Ltd.,Australia and New Zealand Banking Group Ltd.,Westpac Banking Corp.,Commonwealth Bank of Australia
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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