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Bank Industry Risk Analysis: Egypt Apr 99
Standard & Poors, April 1999
Abstract
The Egyptian banking system continues to make measured progress toward reform. A significant positive trend is the success by the state-owned banks in working out their old problem loans to certain public sector enterprises. The government is using part of the revenues from privatization to compensate state banks for bad loans to these public sector entities. Moreover, state-owned banks have improved their provisioning coverage for bad loans. However, Standard & Poor's still considers the state banks to be underprovisioned, although less so than in the past. Further improvements in asset quality will depend on the success of the privatization program, as uncertainties remain as to the timing of the sale of specific companies and the use of the proceeds. The...
Companies mentioned in this report are: Barclays Bank PLC,American Express Bank Ltd.,Israel (State of),Turkey (Republic of),London Assurance (The),Paris (City of),IDBI Bank Ltd.,Egypt (Arab republic of),National Bank of Egypt,Commercial International Bank (Egypt) S.A.E.,Banque Misr,Bank of Alexandria,National Societe Generale Bank S.A.E. (Unsolicited Ratings),Egyptian American Bank S.A.E.,M&I Bank FSB
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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