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Hanvit Bank Nov 01 Product Image

Hanvit Bank Nov 01

  • ID: 2044514
  • November 2001
  • Standard & Poors

Abstract
The rating on Hanvit Bank reflects the continuing weakness of the Korean 'chaebols' (large corporations) to which the bank still has concentrated large exposure, and its weak capitalization in light of this credit risk. The ratings are supported by the bank's accelerated efforts to reduce its bad loans, an improved management strategy, and stabilization in market confidence in the bank after an infusion of public capital in December 2000. The operating environment for Korean banks is less severe than in the late 1990s, but uncertainty remains given a recent slowdown in the domestic economy. Hanvit's asset quality improved but remains weak due to its concentrated exposure to the chaebols. The creditworthiness of these large corporations remains fragile given the slow...

Companies mentioned in this report are: Woori Bank
Action: Review

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: Full Analysis

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