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Viewing report
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Bank of America (Asia) Ltd. Dec 02
Standard & Poors, Dec 2002
Abstract
The public information rating on Bank of America (Asia) Ltd. (BOA-Asia) reflects the bank's good asset quality, strong capitalization, and adequate liquidity. It also reflects the link with the bank's U.S. based ultimate parent, Bank of America Corp. (A+/Stable/A-1). BOA-Asia's near-term profitability is, however, likely to be affected by a difficult operating environment, characterized by weak loan demand and soft pricing. Incorporated in Hong Kong, BOA-Asia is a consumer and commercial bank with 15 branches in the territory and one in Macau. The bank has a shareholding of about 25.5% in QBE Hongkong & Shanghai Insurance Co. Ltd. (A+/--/--), a composite life and general insurance company. BOA-Asia sells insurance products provided by QBE Hongkong & Shanghai Insurance Co. Ltd to...
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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