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Shinhan Bank Apr 10 Product Image

Shinhan Bank Apr 10

  • ID: 1832115
  • April 2010
  • Standard & Poors

FEATURED COMPANIES

  • Shinhan Bank
  • Shinhan Card Co. Ltd.
  • MORE

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

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

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