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Summary: Shinhan Bank Feb 09
Standard & Poors, February 2009
Strong market position as Korea's third-largest bank Improving revenue diversification at the group level Adequate risk management Rising credit risks posed by economic slowdown in Korea Exposure to construction and real estate/lease businesses Moderate group capitalization as a result of consecutive acquisitions The ratings on Shinhan Bank (Shinhan; A-/Negative/A-2) reflect the collective credit profile of Shinhan Financial Group Co. Ltd. (SFG; NR), in view of the typical convergence of risks that occurs among subsidiaries of a common financial holding company. The ratings also reflect Shinhan's strong position in Korea's financial market, improving revenue diversification, and adequate risk management system. These strengths are offset by the group's moderate capitalization, linked to consecutive acquisitions of large financial institutions. The ratings are also...
Companies mentioned in this report are: Shinhan Bank
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.