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Bank SinoPac Dec 04
Standard & Poors, Dec 2004
Abstract
The ratings on Bank SinoPac reflect the bank's adequate financial profile, prudent risk controls, and satisfactory position in certain niche products. Counterbalancing factors include the bank's small business scale and Taiwan's highly competitive banking environment, which restrict its ability to grow. Bank SinoPac has consistently improved its business profile in recent years. The bank's share of domestic banking system assets increased to 1.9% in June 2004 from 1.1% in 2000. As a result of ongoing product innovation and infrastructure enhancement, Bank SinoPac has established niche positions in several business lines, including foreign exchange, derivatives, and factoring. The bank has also developed a comprehensive electronic banking platform to provide additional services to corporate and retail customers. These factors have helped the...
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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