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Banco Fibra S.A. Nov 10
Standard & Poors, Nov 2010
Abstract
Better asset quality than peers' Good track record in the small-corporate and middle-market segments Financial flexibility provided by shareholders Lower profitability than peers' Potential higher delinquency ratios as it moves into consumer finance Increased dependence on foreign funding and institutional depositors The ratings on Banco Fibra S.A. incorporate the bank's low profitability, highly concentrated funding profile, and reduced liquidity. However, the bank's sound asset quality, financial flexibility, and successful strategy of lending to the middle market partially offset these risks. Fibra's profitability is still a major constraint to its financial profile. The bank has historically been posting below-average profitability when compared with its peers. As of June 2010, the bank reported a low return on average assets of 0.6% as...
Companies mentioned in this report are: Banco Fibra S.A.,International Finance Corp.,Companhia Siderurgica Nacional,National Steel S.A.,CSN Resources 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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