CIMB Bank Bhd. Dec 09

Standard & Poors, December 2009

Abstract
Progressive management strategy with a strong market position in Malaysia Increasingly diversified business and earnings profiles following greater geographic diversification Heightened credit and operational risks from regional expansion into high-growth but volatile economies The ratings on CIMB Bank Bhd. reflect the bank's stronger earnings profile following extensive improvements to its consumer banking unit, and geographic diversification from its expansion into Thailand and Indonesia, to position itself for growth. These rating strengths are constrained by the heightened credit risk emanating from the bank's overseas acquisition and weaker-than-average, albeit improving, asset quality. CIMB Bank is a wholly owned subsidiary of CIMB Group Holding Bhd. (CIMBG; BBB-/Stable/A-3), a well-diversified financial holding company listed on the Malaysian stock exchange, Bursa Malaysia. CIMBG also owns...

Companies mentioned in this report are: CIMB Bank Bhd.,Malaysia,PT Bank CIMB Niaga Tbk. (Unsolicited Ratings),CIMB Investment Bank Bhd.,CIMB Group Holding Bhd.
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

CIMB Bank Bhd.,Malaysia,PT Bank CIMB Niaga Tbk. (Unsolicited Ratings),CIMB Investment Bank Bhd.,CIMB Group Holding Bhd.

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