Rural Bank Ltd. Dec 11
Standard & Poors, December 2011
Abstract
Very strong capital and earnings position Good loss experience, which highlights its sound underwriting practices despite its focus on the inherently higher-risk agricultural sector Reasonable geographic diversification Concentrated business profile, focused on the highly specialized and higher-risk agricultural sector Narrow funding profile that is susceptible to competitive funding pressure, and its weaker capacity to source funding in a stressed operating environment Our ratings on Rural Bank reflect the stand-alone credit profile (SACP) for a bank operating only in Australia; plus Rural Bank's "moderate" business position, its "very strong" capital and earnings, "moderate" risk position, "below-average" funding, "adequate" liquidity position, and status as a "core" subsidiary of Bendigo and Adelaide Bank Ltd. (BEN). Our bank criteria use the bank industry credit...
Companies mentioned in this report are:
- Rural Bank Ltd.
- Bendigo and Adelaide Bank Ltd.
Action: Affirmed
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
- Rural Bank Ltd.
- Bendigo and Adelaide Bank Ltd.
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