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Bank of Baroda
Standard & Poors, March 2009
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
Established market position; Adequate profitability and capitalization; and Comfortable liquidity. Modest asset quality given large proportion of portfolio is unseasoned; and Weakening domestic environment. The rating on Bank of Baroda (BOB) reflects the bank's strong market position in the domestic market as the fourth-largest bank in India, its adequate profitability and capitalization, and comfortable liquidity profile. However, the bank's asset quality is modest compared with its domestic peers'. We expect extraordinary government support to be available to BOB in a distress situation due to its majority government shareholding and its systemic importance. However, the current rating does not incorporate this support. As at Sept. 30, 2008, the bank had a total asset size of Indian rupee (INR) 1,901 billion and...
Companies mentioned in this report are: Bank of Baroda (Unsolicited Ratings)
Action: Review
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