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Banco De Oro - EPCI Inc. Jan 08
Standard & Poors, Jan 2008
Abstract
Strong market position as the second-largest domestic bank. Increasingly diversified business and earnings profile following completion of merger. Weak asset quality although expected to improve through rehabilitation and recovery efforts. Downward pressure on capitalization. The counterparty credit ratings on Banco de Oro - EPCI Inc. (BDO-EPCI) reflect the bank's strengthened market position and franchise within the Philippine banking industry, and its increasingly diversified business and earnings profile. While the enlarged market presence and distribution network places BDO-EPCI at a stronger competitive position in its corporate, mid-market, and consumer businesses, these strengths are moderated by downward pressure on capitalization arising from the comparatively inferior asset quality of the merged bank's enlarged loan book. BDO-EPCI is majority owned by the SM Group...
Companies mentioned in this report are: Banco De Oro Unibank Inc. (Unsolicited Ratings),Philippines (Republic of)
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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