First Commercial Bank Ltd. Aug 08
Standard & Poors, August 2008
Abstract
Established domestic franchise Satisfactory liquidity Degree of government support Concentrated revenue structure Moderate profitability, albeit better than domestic peer average The ratings on First Commercial Bank Ltd. (FCB) reflect the bank's established franchise, satisfactory liquidity, as well as a degree of government support given its systemic importance to Taiwan's financial system. Counterbalancing factors include the bank's moderate profitability and concentrated business profile by international standards. Nevertheless, the bank appears stronger on these two risk factors than the domestic peer average. FCB has a good position in Taiwan's banking sector, controlling about 6% of domestic banking deposits and is of systemic importance to the stability of Taiwan's banking market. Accordingly, the Taiwan government is likely to provide implicit support to FCB....
Companies mentioned in this report are: First Commercial Bank Ltd.,First Financial Holding Co. Ltd.,First Securities Inc.
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
First Commercial Bank Ltd.,First Financial Holding Co. Ltd.,First Securities Inc.
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