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Elders Rural Bank Ltd. Oct 04
Standard & Poors, October 2004
Solid asset-quality experience, supported by minimal bad debt charge offs Very good national geographic reach, benefiting from its parents' franchise and brands Sound earnings profile, leveraging off established customer relationships in a related company, and strong rural market knowledge Funding sourced mostly from the retail market Absolute capital size is relatively small, although consistent with the rating Operates in a highly competitive rural banking market, which exhibits a higher risk profile than that inherent in retail banking Performance is subject to cyclical market conditions, which can contribute to higher earnings volatility. The counterparty credit ratings on Elders Rural Bank Ltd (ERB) reflect its broad Australian-wide geographic diversification, strong rural market expertise and knowledge, and its sound earnings history. ERB is...
Companies mentioned in this report are: Rural Bank Ltd.
Action: New Rating
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
Rural Bank Ltd.