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Barclays Bank PLC Apr 07
Standard & Poors, April 2007
Abstract
Strong earnings growth and returns Good market positions Increased diversification by business line and geography Solid funding base Highly developed risk-management framework Relatively weak, although improved, capitalization compared with peers' Potentially increased earnings volatility through enlarged investment bank and international presence Large exposure to U.K. unsecured debt Balance sheet volatility arising from substantial defined-benefit pension fund The ratings on U.K.-based Barclays Bank PLC (Barclays) reflect its strong earnings and returns, good market positions, increased diversification, solid funding base, and highly developed risk-management framework. The ratings also reflect its relatively weak, although improving, capitalization, the potential increase in earnings volatility created by its expanded investment bank, its significant exposure to U.K. unsecured personal debt, and its large defined-benefit pension scheme and...
Companies mentioned in this report are: Barclays Bank PLC,Absa Bank Ltd. (Unsolicited Ratings),Barclays Global Investors Trust & Banking Co. Ltd.,Barclays Private Clients International Ltd.,Barclays Bank Ireland PLC,Barclays Bank Mexico S.A.
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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