Philippine Banks Outlook 2011: Gradual Financial Strengthening Under Stable Operating Conditions May 11
Standard & Poors, May 2011
Abstract
Philippine financial institutions have continued to strengthen their financial profiles on the back of a 7.6% GDP growth in 2010--the highest recorded in 34 years. Indeed, the banking system has displayed considerable resilience in the face of external shocks in 2008 and 2009, thanks to a sensible business model that focuses on traditional and simple-to-understand lending products. Liquidity is supported by the well-established franchise and wide branch network of the domestic commercial banks, which dominate the system. Major players in the banking industry also took advantage of positive investor sentiments to raise various capital instruments. The system's average capital adequacy ratio of 15.2% as at June 30, 2010, is comfortably above the regulatory minimum of 10%. Meanwhile, system profitability as...
Companies mentioned in this report are: Development Bank of the Philippines,Metropolitan Bank & Trust Co. (Unsolicited Ratings),Philippine National Bank,Banco De Oro Unibank Inc. (Unsolicited Ratings)
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
Development Bank of the Philippines,Metropolitan Bank & Trust Co. (Unsolicited Ratings),Philippine National Bank,Banco De Oro Unibank Inc. (Unsolicited Ratings)
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