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PT Bank CIMB Niaga Tbk. Nov 09
Standard & Poors, November 2009
Satisfactory capitalization Adequate profitability Strategically important subsidiary status within CIMB group Operating in a high-risk and developing economic environment Weak asset quality by international standards The public information ratings on PT Bank CIMB Niaga Tbk (CIMB Niaga) factor in a one-notch rating support available to the bank as a result of its strategically important subsidiary status within Malaysia-based CIMB group, which is dominated by CIMB Bank Bhd. (BBB+/Stable/A-2). On a standalone basis, the ratings reflect CIMB Niaga's market position as the fifth-largest commercial bank in terms of assets in Indonesia (foreign currency BB-/Positive/B; local currency BB+/Positive/B), and its satisfactory capitalization and adequate profitability. The credit profile of CIMB Niaga is constrained by the high-risk environment in which the bank operates,...
Companies mentioned in this report are: PT Bank CIMB Niaga Tbk. (Unsolicited Ratings),CIMB Bank Bhd.
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
PT Bank CIMB Niaga Tbk. (Unsolicited Ratings),CIMB Bank Bhd.