Industry Report Card: In An Olympic Year U.K. Banks Are Running A Slow And Steady Race Mar 12
Standard & Poors, March 2012
Abstract
The U.K. may be gearing up for the Queen's Diamond Jubilee and the London 2012 Olympic Games, but the U.K. banking industry still has little cause for celebration, in our view. Over four years since the onset of the financial crisis in 2007, U.K. banks are still embroiled in a prolonged period of recovery, hampered by a weak economy and downward pressure on revenues that is forcing them to realign their cost base. What's more, loan impairment charges are still elevated, and the banks also face an uncertain regulatory future. Nonetheless, we see some light at the end of the tunnel. Banks' balance sheets are becoming sturdier and, as a result, the stand-alone credit profiles (SACP) of our rated U.K....
Companies mentioned in this report are:
- HSBC Bank PLC
- The Royal Bank of Scotland PLC
- Barclays Bank PLC
- Lloyds TSB Bank PLC
- Standard Chartered Bank
- The Royal Bank of Scotland Group PLC
- Santander UK PLC
- Bradford & Bingley PLC
- Nationwide Building Society
- Yorkshire Building Society
- Northern Rock (Asset Management) PLC
- HSBC Holdings PLC
- Lloyds Banking Group PLC
- Clydesdale Bank PLC
- Virgin Money PLC
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.
- HSBC Bank PLC
- The Royal Bank of Scotland PLC
- Barclays Bank PLC
- Lloyds TSB Bank PLC
- Standard Chartered Bank
- The Royal Bank of Scotland Group PLC
- Santander UK PLC
- Bradford & Bingley PLC
- Nationwide Building Society
- Yorkshire Building Society
- Northern Rock (Asset Management) PLC
- HSBC Holdings PLC
- Lloyds Banking Group PLC
- Clydesdale Bank PLC
- Virgin Money PLC
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