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Bank SinoPac Jan 03
Standard & Poors, Jan 2003
Abstract
The ratings on Bank SinoPac reflect the bank's sound asset quality, clear business strategy, and adequate capitalization. However, the bank's market share is still small and it faces price competition, which in turn puts pressure on its profitability. Bank SinoPac's assets are of higher quality than the industry average as a result of its conservative risk control policy. As of the end of the third quarter of 2002, the bank's asset quality had deteriorated slightly due to unfavorable economic conditions, although it remained fundamentally sound. At the end of the third quarter of 2002, Bank SinoPac reported an official nonperforming loan ratio of 2.08% and a ratio of special mention loans (some additional substandard credits that are not classified as...
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
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