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Clydesdale Bank PLC Mar 07 Product Image

Clydesdale Bank PLC Mar 07

  • Published: March 2007
  • Standard & Poors

FEATURED COMPANIES

  • Bank of New Zealand
  • BNZ N.A. Inc.
  • Clydesdale Bank PLC
  • MLC Lifetime Co. Ltd.
  • MLC Ltd.
  • MORE

Abstract
Ownership by, and integration with, National Australia Bank Ltd. Strong asset quality and credit-underwriting standards Good business diversity Sound capitalization Modest market position More limited geographic diversity than U.K. peers, although less so than in the past Near-term earnings pressures remain, reflecting ongoing restructuring, and margin pressure The ratings on Clydesdale Bank PLC reflect its strategically important position within its wholly owned parent group, National Australia Bank Ltd. (NAB; AA/Stable/A-1+). Clydesdale has a modest market position, but benefits from good asset quality and business diversity. If Clydesdale's new business model proves successful, profitability should compare better versus peers, but its funding profile and capitalization may prove to be less sound, although these trends should be manageable. With total assets of...

Companies mentioned in this report are:
- Clydesdale Bank PLC
- National Australia Bank Ltd.
- National Australia Funding (DE) Inc.
- Bank of New Zealand
- BNZ N.A. Inc.
- MLC Ltd.
- NAB Exchangeable Preferred Trust
- MLC Lifetime Co. Ltd.
- BNZ International Funding Ltd.
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- Clydesdale Bank PLC
- National Australia Bank Ltd.
- National Australia Funding (DE) Inc.
- Bank of New Zealand
- BNZ N.A. Inc.
- MLC Ltd.
- NAB Exchangeable Preferred Trust
- MLC Lifetime Co. Ltd.
- BNZ International Funding Ltd.
- National Wealth Management Holdings Ltd.
- National Capital Trust III
- National Capital Instruments [Euro] LLC 2

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