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Bank of Baroda
Standard & Poors, Dec 2002
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
Abstract
The ratings on Bank of Baroda's (BoB) incorporate its sound banking franchise and business profile as one of the larger state-owned banks in India. Nevertheless, ratings also reflect the challenging operating conditions the bank operates in, with narrowing interest margins in a soft interest rate environment, intensifying competition, and sluggish loan conditions. The bank's credit profile is characterized by its relatively weak asset quality, which will remain a challenge given the impending adoption of 90-day standards by March 2004 by the banking industry for the recognition of impaired loans, from the current 180-day standard. This, however, is moderated by the bank's relatively large size in India as the second-largest commercial bank, its majority government ownership, large branch network and strong...
Companies mentioned in this report are: Bank of Baroda (Unsolicited Ratings)
Action: Review
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