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Bank of China Ltd. Dec 07
Standard & Poors, Dec 2007
Abstract
Government support Well-entrenched franchise in China and Hong Kong Improving financial profile Developing credit culture Latent credit risk High exposure to U.S. subprime RMBS The ratings on Bank of China Ltd. (BOC) reflect the bank's strong franchise in China and Hong Kong, strong liquidity profile, and improving financial profile, supported by its good business and geographic diversification relative to its domestic peers'. Government support remains an important rating factor. Counterbalancing factors include the bank's developing credit culture, latent credit risk associated with its rapidly growing China book in a context of its weak, albeit improving, risk management, and relatively high exposure to U.S. subprime RMBS. BOC is among the 'Big Four' Chinese banks, and has the most extensive overseas operations....
Companies mentioned in this report are: Bank of China Ltd.,Asian Development Bank,China (People's Republic of ),The Royal Bank of Scotland Group PLC,UBS AG,Bank of China (Hong Kong) Ltd.,Bank of China Group Insurance Co. Ltd.,Temasek Holdings (Private) Limited
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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