HSBC Bank Australia Ltd. Jun 11
Standard & Poors, June 2011
Abstract
Status as a core member of the HSBC group Robust asset quality Diverse and stable revenue streams relative to local peers Sound risk-adjusted capital ratios Small national market share Indirect exposure to Australian banking system's dependence on wholesale funding The rating on HSBC Bank Australia Ltd. (HBA) reflects the bank's full ownership by The Hongkong and Shanghai Banking Corp. Ltd. (HSBC; AA/Stable/A-1+), and HBA's core subsidiary status to that parent's banking group. HBA's stand-alone credit profile is supported by the bank's robust asset quality, diverse and stable revenue streams relative to local peers, and sound risk-adjusted capital ratios. However, the overall small market share and indirect exposure to the Australian banking system's dependence on wholesale funding slightly moderate the stand-alone...
Companies mentioned in this report are:
- HSBC Bank Australia Ltd.
- Hongkong and Shanghai Banking Corp. Ltd. (Sydney Branch)
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
- HSBC Bank Australia Ltd.
- Hongkong and Shanghai Banking Corp. Ltd. (Sydney Branch)
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