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Barclays Bank Ireland PLC Jul 07
Standard & Poors, July 2007
Abstract
Core subsidiary of 100% owner, Barclays Bank PLC Well capitalized Risk systems and processes shared with Barclays Bank PLC Low diversification and concentrated loan book Aggressive growth targets not met to date The ratings on Barclays Bank Ireland PLC (BBI) reflect its satisfactory fundamentals and its position as a core subsidiary of Barclays Bank PLC (Barclays; 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 the loan book is concentrated. BBI is a niche corporate bank located in Dublin, focusing primarily on the large corporate and infrastructure sectors, and was authorized in early 2005 to take on the business of Barclays' Dublin branch....
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 Private Clients International Ltd.,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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