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Banco Espirito Santo S.A. Nov 01
Standard & Poors, Nov 2001
Abstract
The ratings on Banco Espirito Santo, S.A. (BES) are underpinned by the bank's strong position in the Portuguese banking sector, innovative commercial approach, sophisticated management information systems, and sound profitability. The ratings also take into account the strain that BES' aggressive expansion has put on its financial profile. BES enjoys a strong position as the third-largest bank in the highly competitive and concentrated Portuguese banking market, as a result of a successful organic growth strategy since its privatization in 1991. Throughout the expansion process, BES leveraged its strong competitive advantages in maintaining its strong position in the middle market while substantially expanding banking with individuals. Profitability remains sound by international standards, owing to the bank's cross-selling capabilities and comparatively good...
Companies mentioned in this report are: Banco Espirito Santo S.A.
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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