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MOODY'S : LES PERSPECTIVES DE NOTATION STABLES DES ETABLISSEMENTS BANCAIRES SUISSES REFLETENT LA SOLIDITE DE LEUR PERFORMANCE FINANCIERE

11 Oct 2004
MOODY'S : LES PERSPECTIVES DE NOTATION STABLES DES ETABLISSEMENTS BANCAIRES SUISSES REFLETENT LA SOLIDITE DE LEUR PERFORMANCE FINANCIERE

London, 11 October 2004 -- Les etablissements bancaires suisses notes par Moody's ont affiche de bonnes performances lors du repli boursier et du ralentissement economique de ces trois dernieres annees. En effet, cet environnement defavorable n'a pas empêche les banques commerciales d'enregistrer des resultats comparativement superieurs a ceux des banques privees, indique Moody's Investors Service dans une nouvelle analyse sur le systeme bancaire helvetique. Le groupe Credit Suisse et l'UBS, les deux principaux acteurs bancaires du pays presents sur ces deux secteurs ainsi que dans la banque d'investissement au niveau mondial, ont su conserver leur position dominante en Suisse même. Moody's attire neanmoins l'attention sur le fait que l'ensemble du secteur bancaire suisse aura des difficultes a preserver sa productivite operationnelle tout en absorbant de nouvelles charges d'exploitation liees a la mise en place des dispositions du Comite de Bâle II, des normes comptables IFRS et a de nouvelles directives suisses.

« Lors du recent ralentissement economique, les banques commerciales suisses ont, d'une maniere generale, reussi a continuer de degager un bon flux de revenus grâce, notamment, a (i) une demande soutenue de credits hypothecaires, (ii) une moindre dependance vis-a-vis de la gestion de l'epargne privee et des activites de marche de capitaux, (iii) des risques de marche et de liquidite limites ainsi que (iv) grâce a la qualite relativement stable et satisfaisante de leurs actifs » explique Alexandra Sleator, Senior Vice President chez Moody's Londres et auteur principal de ce rapport. Guido Versondert, Analyste Senior/VP et co-auteur de cette analyse, fait par ailleurs remarquer que même les banques commerciales de taille plus modeste ont temoigne d'une bonne maîtrise de leurs coûts, a travers la mise en commun de certaines depenses et d'autres initiatives de mutualisation des coûts.

Par contre, souligne Moody's, les banques privees helvetiques ont ete durement affectees par l'ampleur et la duree du ralentissement boursier. « Le repli de l'activite a non seulement mis en evidence la dependance durable des banques privees suisses vis-a-vis des commissions de courtage mais aussi le fait que les commissions de gestion sont amenees a diminuer parallelement a la baisse des valeurs liquidatives » precise A. Sleator.

Plus generalement, Moody's juge favorablement les mesures energiques promptement mises en oeuvre en Suisse par les etablissements bancaires pour reduire leurs depenses de l'annee 2002, comme en temoigne le degraissage important des effectifs dans ce secteur. Moody's anticipe neanmoins une augmentation des charges d'exploitation pour l'ensemble des banques helvetiques liee a la necessite de mettre en place de nouveaux systemes visant a se conformer aux nouvelles mesures suisses contre le blanchiment, aux nouvelles normes de Bâle II ainsi qu'aux normes comptables IFRS. L'agence de notation prevoit donc qu'a moyen terme, de nouvelles tensions sur les coûts pourraient de nouveau encourager certaines enseignes plus modestes a se regrouper, soit par le biais de cooperations, soit par des fusions/acquisitions. Moody's insiste toutefois sur la necessite pour les banques de preserver leurs forts ancrages regionaux.

S'agissant des deux groupes bancaires suisses d'envergure internationale, Moody's fait remarquer que le Groupe Credit Suisse et l'UBS continuent a s'imposer dans la banque commerciale en Suisse et la banque privee internationale. Moody's estime que leurs fortes positions dans ces deux secteurs devraient continuer, a terme, a avoir des consequences favorables sur leurs performances et des lors sur leurs notations. Côte banque d'investissement, Moody's estime qu'ayant atteint une masse critique aux Etats-Unis dans le domaine des services financiers aux entreprises, l'UBS a aujourd'hui reussi a s'affirmer pleinement dans la banque d'investissement au plan mondial. Aux prises avec des difficultes de gestion de ses coûts et de ses risques ces trois dernieres annees, le Credit Suisse First Boston (CSFB) -- filiale d'investissement du groupe Credit Suisse -- eprouve, quant a lui, des difficultes a conserver sa position de premier plan dans la banque d'investissement.

* * * * * *

NOTE AUX JOURNALISTES : Pour obtenir un exemplaire de ce document, veuillez contacter Louisa Pearce-Smith a Paris au +33-1-53-30-10-73, notre service presse a Londres +44-20-7772-5456, Detlef Scholz a Francfort +49-69-707-30-700, Adel Satel a Limassol +357-25-586-586, Juan Pablo Soriano a Madrid +34-91-310-1454, Henry MacNevin a Milan +39-02-5821-5580, Hector Lim a Sydney +612-9270-8102, notre service presse a Tokyo +813-5408-4110, notre service presse a New York +1-212-553-0376, Hilary Parkes a Toronto +1-416-214-1635, notre service presse a Hong Kong +852-2916-1150, Luiz Tess a São Paulo +55-11-3443-7444, Benito Solis a Mexico +5255-9171-1817, Reynold Leegerstee a Johannesburg +27-11-217-5471 ou rendez-vous sur notre site internet www.moodys.com.

London
Alexandra A. Sleator
Senior Vice President
Financial Institutions Group
Moody's Investors Service Ltd.
JOURNALISTS: 44 20 7772 5456
SUBSCRIBERS: 44 20 7772 5454

London
Guido Versondert
Vice President - Senior Analyst
Financial Institutions Group
Moody's Investors Service Ltd.
JOURNALISTS: 44 20 7772 5456
SUBSCRIBERS: 44 20 7772 5454

No Related Data.
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