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BULLETIN: DBS Group Restates Its Q1 2003 Capital-Adequacy Ratio Jun 03
Standard & Poors, June 2003
Abstract
SINGAPRE (Standard & Poor's) June 27, 2003--Standard & Poor's Ratings Services said today that the recent announcement by DBS Group Holdings Ltd.'s (DBSH) on the restatement of its first-quarter 2003 capital-adequacy ratios does not affect Standard & Poor's A+/Stable/A-1 ratings on DBSH's wholly owned subsidiary Development Bank of Singapore (DBS). DBS Bank accounts for the bulk of the DBSH group in terms of assets, revenues, and profit. DBSH's announcement relates to the exclusion of certain off-balance-sheet risk-weighted assets in the calculation of its capital-adequacy ratio figures for first-quarter 2003, which caused DBSH's total capital-adequacy ratio to decline to 14.5% from 15.1%--a movement that, nevertheless, has no material impact on the bank's capitalization....
Companies mentioned in this report are: DBS Bank Ltd.
Action: S&P Event
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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