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Banco Espirito Santo S.A. Aug 03
Standard & Poors, Aug 2003
Abstract
The ratings on Banco Espirito Santo S.A. (BES) are underpinned by the bank's sound position and strong competitive edge in the Portuguese banking sector, and healthy core profitability. The ratings on BES also take into account the bank's modest core solvency levels, and the plausible impact that its strong organic growth over the past few years might have on its asset quality in the context of a less favorable economic environment. 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 has leveraged its innovative commercial approach and sophisticated management information systems to...
Companies mentioned in this report are: Banco Espirito Santo S.A.,BES Finance Ltd.,Companhia de Seguros Tranquilidade S.A.,Banque Espirito Santo et de la Venetie
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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