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Members Equity Bank Pty Ltd. Dec 10 Product Image

Members Equity Bank Pty Ltd. Dec 10

  • Published: December 2010
  • Standard & Poors

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Abstract
Strong asset quality underpinned by high proportion of low-risk first mortgages that are 100% mortgage insured Robust capital ratios and good shareholder support Execution risk associated with a recent significant change in strategy, notwithstanding the strategy is consistent with core strengths Funding concentration with heavy, albeit declining, reliance on confidence-sensitive securitization funding Modest earnings profile The 'BBB' counterparty credit rating on Members Equity Bank Pty Ltd. (MEB) reflects the bank's strong asset quality, underpinned by a low-risk credit profile that benefits from the loan portfolio's high proportion of low-risk, first-mortgage, owner-occupied home loans, which are 100% mortgage insured. The ratings also recognize MEB's robust capital ratios and good shareholder support. Offsetting these strengths is MEB's exposure to execution risk related...

Companies mentioned in this report are:
- Members Equity Bank Pty Ltd.
- Bank of Queensland Ltd.
- Bendigo and Adelaide Bank Ltd.
- Heritage Bank Ltd.
- TSB Bank Ltd.
- Rural Bank Ltd.

Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth READ MORE >

- Members Equity Bank Pty Ltd.
- Bank of Queensland Ltd.
- Bendigo and Adelaide Bank Ltd.
- Heritage Bank Ltd.
- TSB Bank Ltd.
- Rural Bank Ltd.

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