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Bank Industry Risk Analysis: Portugal Sep 98
Standard & Poors, Sep 1998
Abstract
The Portuguese banking system has assimilated a profound change in the past decade. Deregulation, followed by privatization has led to increased competition and consolidation, which have radically changed the dynamics and structure of Portuguese banking. Once backward and inefficient, Portuguese banks now resemble those of other European countries in terms of product range, innovation, and sophistication. The rapid changes brought about by deregulation have been managed smoothly without creating major stress in the Portuguese financial system, and, soon in the aftermath of deregulation, the recession of 1993-1994 did not cause any casualty of importance. Furthermore, since the privatizations began in 1989, the financial system's asset quality has been strengthened significantly, as the loan portfolios of privatized banks have been purged...
Companies mentioned in this report are: Deutsche Bank AG,Credit Lyonnais,Barclays Bank PLC,Portugal (Republic of),Banco Santander S.A.,Banco Portugues do Atlantico S.A.,Banco Espanol de Credito S.A.,Banco Totta & Acores, S.A.,Banco Espirito Santo S.A.,Caixa Geral de Depositos S.A.,Banco Central HispanoAmericano S.A.,Banco Comercial Portugues S.A.,Banco Pinto & Sotto Mayor, S.A.,Espirito Santo Financial Group S.A.
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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