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Bank of America (Asia) Ltd. Nov 05
Standard & Poors, Nov 2005
Abstract
The public information rating on Bank of America (Asia) Ltd. (BOA-Asia) reflects the benefit of the bank's strong links with its parent, Bank of America Corp. (AA-/Stable/A-1+), as well as its own good asset quality, strong capitalization, and high liquidity. The bank's profitability remains satisfactory, although further diversification of income sources will be a key factor if it is to boost its profit growth in a rising interest rate environment. BOA-Asia is wholly owned by Bank of America Corp. and incorporated as a commercial bank in Hong Kong. It has an operation in Macau, through a wholly owned subsidiary, Bank of America (Macau) Ltd. The opening of a representative office in Guangzhou in January 2005 marked the bank's initial presence...
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
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