Research Update: First Commercial Bank Ltd. 'BBB+/A-2' Ratings Affirmed On Revised Criteria; Outlook Stable Dec 11
- Language: English
- Published: December 2011
The rating based on public information, or 'pi' rating, on First Commercial Bank (FCB) reflects its first-tier domestic market position and the significant franchise enhancement potential the bank enjoys as a result of its extensive branch network and long history. These strengths are partially offset by its average asset quality and its fair, though stable, profitability. Its financial profile is also pressured by fierce competition from both ambitious newer banks and efficient, older private banks. FCB commands nearly 6% of the total system assets. Despite a decline in its market share, it remains one of the primary players in the industry and domestic financial market turmoil in 1998 and 1999 entailed a flight to safety, thereby providing some support to...
Companies mentioned in this report are: First Commercial Bank Ltd.
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