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Barclays Bank Ireland PLC Jul 05
Standard & Poors, July 2005
Abstract
Benefits from 100% ownership by Barclays Bank PLC; High quality capital base; and Conservative approach to risk. Growth in syndicated loan book could reduce asset quality; Funding profile is likely to be highly dependent on short-term paper; Diversification is limited and loan book concentrated; and As a new legal entity there is limited historical financial information. The ratings on Barclays Bank Ireland PLC (BBI) reflect its satisfactory fundamentals and its strategically important position within Barclays Bank PLC (AA/Stable/A-1+), which owns 100% of BBI. Capitalization is good and local management's attitude to risk is conservative. The plan to grow syndicated lending could raise the bank's risk profile, however, and the dependence on short-term funding is high. Diversification is low, and the...
Companies mentioned in this report are: Barclays Bank Ireland PLC,Barclays Bank PLC,Barclays Global Investors Trust & Banking Co. Ltd.,Barclays Capital (Cayman) Ltd. ,Barclays Bank PLC (Australian Branch),Barclays Private Clients International Ltd.,Barclays Financial LLC
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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