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Bank of Western Australia Ltd. Mar 11
Standard & Poors, March 2011
Abstract
Ownership by Commonwealth Bank of Australia Ltd. (CBA) Good risk-management policies and procedures in the context of its strong parent group Sound market position in the Australian State of Western Australia Higher nonperforming assets than Australian major and regional bank peer averages Profitability negatively affected by high loan loss provisions, but expected to recover during fiscal 2011 The counterparty credit ratings on Bank of Western Australia Ltd. (Bankwest) benefit from Bankwest's status as a core subsidiary of Commonwealth Bank of Australia Ltd. (CBA; AA/Stable/A-1+). Since Bankwest's acquisition by CBA from the HBOS PLC group, which was approved by the Australian Federal Treasurer in December 2008, Bankwest has become operationally integrated within CBA and demonstrates good risk-management policies and procedures, leveraging...
Companies mentioned in this report are: Bank of Western Australia Ltd.,Commonwealth Bank of Australia,ASB Bank Ltd.,CBFC Ltd.,ASB Finance Ltd.,Colonial Finance Ltd.,The Colonial Mutual Life Assurance Society Ltd.,Colonial Holding Co. Ltd.,The Colonial Mutual Life Assurance Society Ltd. (NZ Branch),CBA Funding NZ Ltd.,ASB Capital Ltd.,ASB Capital No.2 Ltd.,CBA Capital Australia Ltd.,Preferred Capital Ltd.,ASB Finance Ltd. (London Branch),CommBank Europe Ltd.
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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