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Caja de Ahorros del Mediterraneo (CAM) Oct 00
Standard & Poors, Oct 2000
Abstract
The ratings on Caja de Ahorros del Mediterr-neo (CAM) reflect the bank's solid position in its core market and strong financial profile. Since 1993, CAM has maintained a liquid balance sheet and strong core profitability, while improving its asset quality. The ratings on CAM also reflect the bank's greater geographic concentration and smaller size relative to larger domestic competitors. In addition, although the 1998 cash purchases of two small banks--the Spanish subsidiaries of Istituto Bancario San Paolo di Torino (San Paolo) and Abbey National--provide a solid base for further development, they slightly impair CAM's financial profile. CAM has achieved a dominant market share in retail banking in its core provinces of Alicante and Murcia as a result of a series...
Companies mentioned in this report are: Caja de Ahorros del Mediterraneo
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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