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Banco Nacional de M?xico S.A. (Banamex) Jul 10
Standard & Poors, July 2010
Abstract
Good market position among the top banks in Mexico Sound solvency and conservative capital management Expertise in lending to large global corporations, a diversifying lending portfolio, and a broad deposit base Strong management Positive profitability, comparing well among peers' Rising competition Volatile profitability Uncertainties as to parent Citigroup's performance Banco Nacional de M-xico S.A. (Banamex) is one of Mexico's principal financial services providers and the national leader in corporate services and asset management, with a market share in loans of 17% as of May 2010. The bank is owned by U.S.-based Citigroup Inc. (A/Negative/A-1) and benefits from the parent's global reach. Standard & Poor's Ratings Services' counterparty credit ratings on the bank currently reflect its stand-alone creditworthiness and do not...
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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