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Korea's Chohung Bank Assigned 'BB/B' Ratings; Outlook Stable Mar 00 Product Image

Korea's Chohung Bank Assigned 'BB/B' Ratings; Outlook Stable Mar 00

  • Published: March 2000
  • Standard & Poors

Abstract
TOKYO (Standard & Poor's CreditWire) March 14, 2000--Standard & Poor's today assigned its double-'B' long-term and 'B' short-term counterparty credit ratings to Korea's Chohung Bank. The outlook on the long-term rating is stable. Chohung's operating profitability (including trading income) surpasses the domestic average, while the bank's ratio of net nonperforming assets to published equity is lower than that of its close peers. These factors, together with Chohung's established retail and middle-market franchise, indicate that the bank is able to compete effectively with most of its peers in Korea. Nonetheless, like most other local banks, Chohung needs to address its high residual nonperforming loans and continue to strengthen its capital. While continued high credit provisioning expenses caused Chohung to report a...

Companies mentioned in this report are:
- Shinhan Bank

Action: New Rating

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- Shinhan Bank

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