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Banking Industry Country Risk Assessment: Singapore Oct 09
Standard & Poors, Oct 2009
Abstract
Strong economic fundamentals; Robust public finances and strong macroeconomic management; Resilient banking system with a sound risk and financial profile; Stable retail funding sources thanks to depositor confidence and loyalty; and A strong regulatory environment that is supportive of a sound and stable financial system. Vulnerability to exogenous shocks due to its open economy and export dependence; Challenging growth prospects of the Singapore economy in the near term. Standard & Poor's Ratings Services considers Singapore's (AAA/Stable/A-1+) banking system to be strong and has categorized it in Group 2 of its Banking Industry Country Risk Assessment (BICRA). Our BICRA rankings reflect our assessment of the strengths and weaknesses of a country's banking system, compared with those of other countries, on a...
Companies mentioned in this report are: DBS Bank Ltd.,United Overseas Bank Ltd.,Oversea-Chinese Banking Corp. Ltd.
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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