S&P views China Merchants positively

S&P said it revised the outlook on China Merchants Bank Co. Ltd. and its core subsidiaries, CMB International Capital Holdings Corp. Ltd., CMB Financial Leasing Co. Ltd., and CMB International Leasing Management Ltd. to positive from developing.

The agency also affirmed the BBB+ long-term ratings for the companies.

“The outlook revision follows CMB's improving liquidity in the past two years and receding risks from legal actions against the bank's former president.

“CMB may sustain better liquidity than the industry average. The bank has a strong retail branding, which contributes to a solid asset management business. An affluent and loyal retail depositor base has also bolstered its funding. CMB has kept loan growth below that of deposits in the past three years, becoming one of the major interbank lenders in China,” S&P said in a press release.

© 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.