Summary: First Commercial Bank Ltd. Nov 11
Standard & Poors, November 2011
Abstract
The ratings on First Commercial Bank Ltd. (FCB) reflect the bank's established franchise with a degree of implicit support from the Taiwan [AA-/Stable/A-1+, cnAAA/cnA-1+ (Unsolicited Ratings)] government given the bank's systemic importance to the island's financial system, satisfactory funding and liquidity profile, and adequate capitalization. Counterbalancing factors include the bank's moderate profitability and concentrated business profile by international standards. FCB has a well-established franchise and good domestic market position. The bank ranks fifth largest in terms of total domestic banking system assets and is the largest local bank in terms of custody business and second largest for trust assets. FCB's island-wide network and extensive customer base provide solid franchise value and a stable deposit-funding base. In addition, we believe the...
Companies mentioned in this report are: First Commercial Bank Ltd.
Action: Review
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
First Commercial Bank Ltd.
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