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Bank Industry Risk Analysis: Hellenic Republic Oct 04
Standard & Poors, Oct 2004
Abstract
The Greek financial industry has undergone a significant transformation in recent years while adjusting to the structural changes taking place in its operating environment. Deregulation and liberalization, together with the overall more stable macroeconomic framework brought about by Greece's entry into the EMU in January 2001, have been leading forces in the modernization of the country's banking system. The transformation process has yet to be completed, however. Although still enjoying attractive medium-term growth prospects and maturing quickly, the Greek financial system is, in Standard & Poor's view, still less developed and subject to higher economic and industry risks than that of most of its EU-15 peers. This view is reflected in Standard & Poor's ratings on the major Greek banking...
Companies mentioned in this report are: Greece (Hellenic Republic),Romania,Alpha Bank A.E.,National Bank of Greece S.A.,Bulgaria (Republic of),EFG Eurobank Ergasias S.A.,Piraeus Bank S.A.,Macedonia (Republic of)
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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