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Bank SinoPac Aug 08
Standard & Poors, Aug 2008
Abstract
Good asset quality Adequate capitalization Moderate profitability Scale disadvantage relative to international peers The ratings on Bank SinoPac reflect the bank's good asset quality and adequate capitalization. Counterbalancing factors include the bank's moderate profitability and scale disadvantage relative to international peers. However, Bank SinoPac ranks among the top one-third of Taiwan's 37 domestic banks in terms of total assets. Bank SinoPac benefits from its status as a core subsidiary of SinoPac Holdings (BBB-/Stable/A-3), a midsize domestic financial group with good asset quality, adequate capitalization, and moderate profitability. The bank plays an integral part in the group's business operations and cross-selling activities, and contributes about 70% of the group's net worth and recurring profit. Bank SinoPac is a midsize bank in...
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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