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Asian Banks Bracing For Triple Whammy Of Write-Downs, Tightening Markets, And Economic Slowdown Jan 08
Standard & Poors, Jan 2008
Abstract
In the past six months, banks in Asia, as elsewhere, have had to contend with the U.S. subprime mortgage situation and associated global credit crunch, the recent declines in the equity markets, and now the looming U.S. economic recession. While negligible exposure to U.S. subprime and other related structured securities saved most Asian banks from material write-downs and the effect of global credit crunch will be slow and subdued, Asian banks are far from being immune to an economic slowdown. However, the majority of the rated banks in Asia are well placed to weather the storm, albeit with likely declining profitability in 2008. A minority of the rated financial institutions are, however, vulnerable to recent developments and could experience deterioration...
Companies mentioned in this report are: DBS Bank Ltd.,Bank of China Ltd.,Mega International Commercial Bank Co. Ltd.
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.
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