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Bulletin: DBS Bank Ratings Unaffected By Its Acquisition Of Bowa Bank Feb 08
Standard & Poors, Feb 2008
Abstract
SINGAPORE (Standard & Poor's) Feb. 4, 2008--Standard & Poor's Ratings Services said today that its ratings and outlook on Singapore's DBS Bank Ltd. (DBS; AA-/Stable/A-1+) are unaffected by the bank's announcement that it is the successful bidder in a government auction to acquire the 'good bank assets' of Bowa Commercial Bank Ltd. in Taiwan. Bowa is a small Taiwanese bank with 39 branches and has been under regulatory supervision since August 2007. Under the terms of the transaction, DBS will acquire Bowa's good assets of approximately new Taiwan dollars (NT$) 66.3 billion of net loans, NT$92.3 billion of deposits, with a payment of NT$44.5 billion from the Taiwan government. While Standard & Poor's recognizes that this acquisition will expand DBS's...
Companies mentioned in this report are: DBS Bank Ltd.
Action: Bulletin
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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