Research Update: CIMB Bank And CIMB Investment Bank Ratings Raised To 'A-' On Revised Criteria, CIMB Group Affirmed; Outlook Stable Dec 11
- Language: English
- Published: December 2011
Strong market position in Malaysia Diversified business and earnings profile Asset quality is slightly weaker than peers', but improving Capitalization, while adequate, is slightly below similarly rated peers' The ratings on CIMB Bank Bhd. reflect the bank's improved earnings profile following improvements in its consumer banking unit. The Malaysia-based bank has also built on its strengths in corporate and investment banking to position itself for growth. The bank's weaker-than-average, albeit improving, asset quality and capital levels compared with peers' temper these strengths. CIMB Bank is a wholly owned subsidiary of CIMB Group Holding Bhd. (CIMBG; BBB-/Stable/A-3), a well-diversified financial holding company listed on the Malaysian stock exchange, Bursa Malaysia. CIMBG also owns 100% of Malaysia-based CIMB Investment Bank Bhd. (CIMBIB;...
Companies mentioned in this report are: CIMB Bank Bhd.,CIMB Investment Bank Bhd.,CIMB Group Holding Bhd.
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Research Type: Full Analysis
CIMB Bank Bhd.,CIMB Investment Bank Bhd.,CIMB Group Holding Bhd.