|
|
 |
|
Viewing report
|
|
|
|
Bank SinoPac Aug 09
Standard & Poors, Aug 2009
Abstract
Adequate funding profile Adequate asset quality Mediocre profitability Scale disadvantage relative to its international peers' The ratings on Bank SinoPac reflect our view that the bank's funding profile and asset quality are adequate. Counterbalancing factors include the bank's mediocre profitability and scale disadvantage relative to its international peers. Bank SinoPac benefits from its status as a core subsidiary of SinoPac Holdings (BBB-/Negative/A-3), a midsize domestic financial group with adequate liquidity and risk management and mediocre profitability. The bank plays an integral part in the group's business operations and cross-selling activities, and contributes about 70% of the group's net worth and recurring profit. The bank has an adequate funding profile in our view, with a diversified deposit base accounting for 86%...
Companies mentioned in this report are: Bank SinoPac,SinoPac Securities Corp.,SinoPac Holdings
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
|
|
|
|
