- Language: English
- 81 Pages
- Published: January 2011
- Region: United Arab Emirates
- Published: May 2011
- Standard & Poors
Good commercial position. Good earning capacity. Much improved funding profile and capitalization over the past 18 months. Still weak economic environment. High combined exposures to Dubai-related entities and real estate. Sustained cost of risk that weighs on overall profitability and internal capital generation. The ratings on Dubai-based Mashreqbank are supported by its good commercial position in the Emirate of Dubai (not rated), which enabled the bank to generate sound preprovision earnings, as well as much-improved funding and capitalization over the past 18 months. Although we deem credit risk at Mashreq to have declined, we still expect asset quality to deteriorate. We believe that the bank's sound earnings generation should allow it to buffer a high cost of risk. Constraining rating...
Companies mentioned in this report are: Mashreqbank,Oman Insurance Co. (PSC)
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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Mashreqbank,Oman Insurance Co. (PSC)