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Development Bank Of Singapore Assigned 'A+'/'A-1' Counterparty Credit Ratings; Outlook Stable Jul 99 Product Image

Development Bank Of Singapore Assigned 'A+'/'A-1' Counterparty Credit Ratings; Outlook Stable Jul 99

  • Published: July 1999
  • Region: Singapore
  • Standard & Poors

Abstract
LONDON (Standard & Poor's CreditWire) July 16, 1999--Standard & Poor's today assigned its single-'A'-plus long-term and 'A-1' short-term counterparty credit ratings to The Development Bank of Singapore Ltd. (DBS Bank). The outlook is stable. DBS Bank is characterized by a very strong domestic franchise, and sound funding, liquidity, capitalization, and underlying operating profitability. The government's 42% indirect ownership in DBS Bank is seen as neutral to slightly positive. Recent acquisitions, however, have increased the bank's exposure to weaker regional economies--resulting in rapid balance-sheet growth, and weakened asset quality and after-tax profitability. DBS Bank is Singapore's largest domestic bank, with a leading market share of loans and deposits, a strong retail-funding base, and a sound capital position. The bank's capital adequacy...

Companies mentioned in this report are:
- DBS Bank Ltd.

Action: New Rating

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- DBS Bank Ltd.

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