Banco ABC Brasil S.A.: Update following the sovereign rating action
Our credit view of Banco ABC Brasil, reflecting its strong risk-management policies that support superior asset quality, despite a still-weak economy that continues to strain earnings.Banco ABC Brasil is a multiple activity bank with commercial, investment, credit, funding and investment, real estate financing and foreign exchange portfolios. Co.'s main business line is the financial intermediation in operations involving analysis and the assumption of credit risks. Structured operations, principally of capital markets, are derived from that activity, and are mainly driven to corporate financing. Other services include the arbitrage of markets, rates and currencies, both from operations demanded by customers, and the provision of an asset management area. As of Dec 31 2007, Co. had total assets of R$5,665,687,000 and total deposits of R$1,744,180,000.
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