|
|
 |
|
Viewing report
|
|
|
|
Bank of New Zealand Ltd. Aug 05
Standard & Poors, Aug 2005
Abstract
Ownership by National Australia Bank Ltd. Good local franchise and brand image in New Zealand Strong asset quality and credit underwriting standards Very good capitalization Susceptibility to any slowdown in operating environment, particularly in residential lending Relatively large exposure concentrations Greater reliance on short-term funding The counterparty credit ratings on Bank of New Zealand Ltd. (BNZ) reflect its good local franchise and brand image as New Zealand's second-largest bank, strong asset quality, and very good capitalization. Moderating factors include an increasingly competitive operating environment, relatively large single customer exposures, and significant maturity mismatch that reflects the bank's higher reliance on short-term funding. However, BNZ's status as a wholly owned and integrated core subsidiary of National Australia Bank Ltd. (NAB; AA-/Stable/A-1+)...
Companies mentioned in this report are: Bank of New Zealand,National Australia Bank Ltd.,BNZ N.A. Inc.
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
|
|
|
|
