|
|
 |
|
Viewing report
|
|
|
|
Absa Bank Ltd. Nov 06
Standard & Poors, Nov 2006
Abstract
The public information ('pi') rating on Absa Bank Ltd. (Absa Bank) reflects its strategic importance to its new majority shareholder U.K.-based Barclays Bank PLC (Barclays; AA/Stable/A-1+), its strong retail position in the South African market, solid financial profile, and dominant position within Absa Group Ltd. (Absa), one of the largest financial service providers in South Africa. The rating continues to be constrained by the socioeconomic and competitive challenges of operating in South Africa and growing competition. Absa is expected to benefit from integration into Barclays' strong risk-management culture, and from Barclays' value-based management framework and economic profit targeting. The integration is not without execution risk, however. The dominant entity in the group, Absa Bank accounted for more than 82% of...
Companies mentioned in this report are: Absa Bank Ltd. (Unsolicited Ratings),Barclays Bank PLC,Barclays Global Investors Trust & Banking Co. Ltd.,Barclays Capital (Cayman) Ltd. ,Barclays Bank PLC (Australian Branch),Barclays Private Clients International Ltd.,Barclays Financial LLC,Barclays Bank Ireland PLC
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
|
|
|
|
