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Banco HSBC Salvadoreño S.A. Dec 11
Standard & Poors, December 2011
Moderately strategic subsidiary of HSBC Holdings PLC; Third-largest bank in Salvadorian ranking in terms of assets, deposits, and capital; and Diversified loan portfolio with a lower-than-peer exposure to real state loans. Weak reserve coverage of about 77% in 2011, which is in 12th place in the banking system; and Small Salvadorian economy with low growth prospects. Standard & Poor's Ratings Services' ratings on Banco HSBC Salvadoreño reflect its "adequate" (as our criteria define it) business position, capital and earnings, risk position, and liquidity, and "average" funding. They also reflect its status as a moderately strategic subsidiary of London-based HSBC Holdings PLC (AA-/Stable/A-1+). Banco HSBC Salvadoreño operates in the same business lines as its parent, it's closely linked to the parent's...
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Research Type: Full Analysis
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