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Singapore Banks' Credit Profiles Strengthened In 2004, Says S&P Report Mar 05 Product Image

Singapore Banks' Credit Profiles Strengthened In 2004, Says S&P Report Mar 05

  • ID: 2041130
  • March 2005
  • Region: Singapore
  • Standard & Poors

FEATURED COMPANIES

  • DBS Bank Ltd.
  • United Overseas Bank Ltd.
  • MORE

Abstract
SINGAPORE (Standard & Poor's) March 1, 2005--The credit profiles of Singapore banks have strengthened further in 2004 as a result of continued growth in the domestic economy, said Standard & Poor's Ratings Services in a commentary titled "Industry Report Card: Singapore Banks" published today. The earnings of Singapore banks in the fiscal year ended December 2004 have reached a five-year high. Operating earnings and net income have exceeded those of the previous year, although they were partially aided by one-off gains from sale of certain investments. "Profitability continues to be underpinned by the substantially lower loan loss charges, owing largely to macroeconomic factors, such as the improving economy which brought increased lending activity and stabilization in property prices that lowered...

Companies mentioned in this report are:
- DBS Bank Ltd.
- United Overseas Bank Ltd.
- Oversea-Chinese Banking Corp. 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.

- DBS Bank Ltd.
- United Overseas Bank Ltd.
- Oversea-Chinese Banking Corp. Ltd.

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