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Banco HSBC Salvadore?o S.A. Dec 11
Standard & Poors, Dec 2011
Abstract
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 Salvadore-o 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 Salvadore-o operates in the same business lines as its parent, it's closely linked to the parent's...
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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