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Brazilian Banks in Times of Turbulence Jul 02
Standard & Poors, July 2002
Abstract
(Editor's note: The version of this report, published July 25, had an incorrect heading in table 1. A corrected version follows.) Brazilian banks are currently facing a more difficult environment due to high volatility in the financial markets, their exposure to government securities, and potential further deterioration in asset quality indicators. Nevertheless, the Brazilian banks rated by Standard & Poor's have proven to be resilient to crises and have good management teams. They have limited reliance on external funds in their total funding base, and have shown traditionally high profitability and acceptable capital levels. Now their biggest challenge is the high proportion of government securities in their balance sheets at a time of anxiety in the markets due to the...
Companies mentioned in this report are: Brazil (Federative Republic of),Banco Bradesco S.A.,Banco do Brasil S.A
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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