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Banco Citibank S.A. Dec 07
Standard & Poors, Dec 2007
Abstract
Full ownership by Citigroup Inc. (AA/Watch Neg/A-1+) and the benefits of expected parent support Long track record operating in Brazil Business diversification toward retail Challenge to grow the retail business and dilute this segment's investment-related expenses, improving the bank's overall efficiency Higher credit risk arising from the bank's increasing exposure to retail in its credit portfolio mix Strong competitive environment Standard & Poor's Ratings Services' ratings on Banco Citibank S.A. reflect the bank's challenge to increase its retail business, the higher credit risk arising from the bank's increasing exposure to retail in its credit portfolio mix, and the strong competitive environment. Offsetting these negatives are the benefits of being a strategic business of Citigroup Inc. (AA/Watch Neg/A-1+), which includes expectations...
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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