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Barclays Bank Ireland PLC Jul 06
Standard & Poors, July 2006
Abstract
Core subsidiary of 100% owner, Barclays Bank PLC Well capitalized Risk systems and processes shared with Barclays Low diversification and concentrated loan book Dependence on short-term paper to fund growth Limited historical financial information The ratings on Barclays Bank Ireland PLC (BBI) reflect its satisfactory fundamentals and its position as a core subsidiary of Barclays Bank PLC (AA/Stable/A-1+), which owns 100% of BBI. Capitalization is good and risk management is sound, benefiting from its common approach with Barclays. Diversification is low, however, and dependence on short-term funding is likely to be high. The relatively new nature of the entity means that there is only limited financial information. BBI is a small corporate bank located in Dublin, and was authorized in...
Companies mentioned in this report are: Barclays Bank Ireland PLC,Barclays Bank PLC,Absa Bank Ltd. (Unsolicited Ratings),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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