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ASB Bank Ltd. Dec 11
Standard & Poors, Dec 2011
Abstract
Recipient of group support from 'AA-' rated parent Robust business position and one of the leaders in key market segments, including low-risk residential banking Potential recipient of extraordinary government support in the unlikely event it were required Despite recent efforts to reduce exposure to short-term offshore wholesale funding, there remains a level of dependence that could disrupt funding access Subdued outlook for credit growth in key credit markets Our ratings on ASB Bank Ltd. (ASB) reflect the anchor stand-alone credit profile (SACP) for a bank operating mainly in New Zealand; plus the bank's 'strong' business position, 'adequate' capital and earnings, risk position and liquidity; and 'average' funding. Our bank criteria use the BICRA economic risk and industry risk scores to...
Companies mentioned in this report are: ASB Bank Ltd.,Commonwealth Bank of Australia,Bank of Western Australia Ltd.,CBFC Ltd.,ASB 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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