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Shinhan Bank Apr 10 Product Image

Shinhan Bank Apr 10

  • Published: April 2010
  • Standard & Poors

FEATURED COMPANIES

  • Shinhan Bank
  • Shinhan Card Co. Ltd.
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Abstract
Strong market position as Korea's third-largest bank Good revenue diversification at the group level Relatively sound liquidity position Rising credit risks Relatively large exposure to construction and real estate/leasing businesses Medium- to long-term pressure on interest margins The ratings on Shinhan Bank (Shinhan; A-/Stable/A-2) reflect Shinhan's strong position in Korea's financial market, good revenue diversification, and adequate capitalization. These strengths are offset by rising credit risks from increased private-sector leverage amid a potential interest rate hike in Korea. The ratings are also constrained by the bank's relatively large exposure to construction and real estate/leasing businesses, as well as mid- to long-term pressure on net interest margins (NIMs). Shinhan is the third-largest commercial bank in Korea (foreign currency A/Stable/A-1; local currency...

Companies mentioned in this report are:
- Shinhan Bank
- Shinhan Card Co. Ltd.

Action: Review

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- Shinhan Bank
- Shinhan Card Co. Ltd.

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