S&P revises CIMB Bank stand-alone rating

S&P said it affirmed the A- long-term and A-2 short-term issuer credit ratings on CIMB Bank Bhd. and CIMB Investment Bank Bhd.

The outlook is stable.

The agency also said it revised CIMB Bank's stand-alone credit profile to A- from BBB+ because of the bank's strengthened capital position.

S&P said it affirmed the rating on CIMB Bank because it expects the bank to maintain its business position, strong funding capacity and improved capitalization over the next 18 to 24 months.

The bank is expected to maintain its position among the top three largest Malaysian banks, S&P said.

CIMB Bank established itself as a leading regional bank with a focus on countries in the Association of Southeast Asian Nations and is more geographically diversified than domestic peers, the agency said.

CIMB Bank's large, stable retail deposit base underpins its funding profile.

The bank's exposure to higher risk emerging markets and margin pressure in its home market are constraining factors, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.