The Australian Defense Industry - Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016
- Published: October 2011
- Region: Australia
Status as 'core' subsidiary of the HSBC group Diverse and stable revenue streams relative to local peers Strong risk-adjusted capital ratios Single name and geographic concentration Indirect exposure to Australian banking system's dependence on wholesale funding Our ratings on HSBC Bank Australia Ltd. (HBAU) reflect the anchor stand-alone credit profile for financial institutions operating only in Australia, plus HBAU's "moderate" business position, "strong" capital and earnings, "moderate" risk position, "below average" funding, and "adequate" liquidity. Our bank criteria use the BICRA economic risk and industry risk scores to determine a bank's anchor SACP, the starting point in assigning an issuer credit rating. The anchor SACP for a bank operating only in Australia is 'a-'. The BICRA score is informed by...
Companies mentioned in this report are: HSBC Bank Australia Ltd.
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Research Type: Full Analysis
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HSBC Bank Australia Ltd.