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Banco de Oro Universal Bank Apr 05
Standard & Poors, April 2005
Abstract
The ratings on Banco de Oro Universal Bank (BDO) reflect the bank's improving domestic franchise within the Philippine banking industry, satisfactory capitalization, and stable profitability, amid the still difficult economic environment in the Philippines. However, these strengths are moderated by BDO's weak asset quality, although this is showing signs of improvement. BDO is part of the SM Group of Companies, one of the largest conglomerates in the Philippines, and the group is headed by retail tycoon Henry Sy, Sr. BDO was the Philippines' seventh-largest domestic commercial bank in 2003 in terms of assets after its acquisition of the local unit of Spanish bank Banco Santander Central Hispano SA, growing from being the ninth-largest bank. The acquisition will provide BDO with...
Companies mentioned in this report are: Banco De Oro Unibank Inc. (Unsolicited Ratings)
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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