FirstCaribbeans Kreditrating wird von S&P auf "A- stable“ bestätigt
08.04.2005
Die Ratingagentur Standard & Poor’s hat das aktuelle Kreditrating der FirstCaribbean International Bank "A- stable" bestätigt. Eigenen Angaben zu folge handelt es sich um einer der besten Ratings in der Region. Nur die Caribbean Development Bank kann ein besseres Kreditrating aufweisen.
Der aktuelle Report besagt, dass FirstCaribbean insbesondere durch die stabile und ausgebaute regionale Infrastruktur einen entscheidenden Vorteil gegenüber anderen Wettbewerbern aufweisen kann.
The ratings agency, Standard & Poor’s, has confirmed FirstCaribbean International Bank’s credit rating of "A- stable". This credit rating is one of the strongest in the region, and the strongest of any financial institution, with the exception of the Caribbean Development Bank.
The report says that FirstCaribbean has been able to retain this attractive rating, based on its regional infrastructure, which, the rating agency considers, has given the Bank a competitive advantage over other regional players.
Standard & Poor’s also made favourable mention of FirstCaribbean’s diversification; its strong market share in the 16 Caribbean countries in which it operates; its good financial condition; its prudent management of credit risk; and the success of its now-concluded integration programme.
According to Standard & Poor’s FirstCaribbean’s achievements come against a background of strong regional competition, and a relative lack of economic diversity in the region.
Standard & Poor’s was complimentary of FirstCaribbean’s leadership team, which it described, as professional, and with "a good banking and regional experience". The recently-published Standard & Poor’s report noted that FirstCaribbean management "should be able further strengthen the bank’s regional presence."
It further noted: "The strategy aims to offer a wide palette of banking services for both individuals and corporations within the Caribbean region under a homogeneous product and service culture. Products, delivery channels, policies, and procedures have all been harmonized to expand operations under one platform and one brand."
The report spoke well of the bank’s financial performance in the last financial year. "FirstCaribbean posted good financial results at fiscal year-end October 2004, reporting ROE of 7.3% (11.3% on tangible equity) and ROA of 1%. Despite stiff competition, the bank was able to achieve double-digit growth on its loan book, with important increments in the retail segment. The bank’s balance sheet continues to be highly liquid, with liquid assets representing around 40% of total assets. This balance sheet structure allows flexibility to manage growth and country concentrations. Taking into account the bank’s strong market position, the track record if its predecessors, and management’s plans, FirstCaribbean is expected to build further a good capacity to generate earnings from both traditional domestic banking activities and offshore operations, in addition to an efficient cost structure."
FirstCaribbean’s Chief Executive Officer, Charles Pink, in welcoming the report, said:
"We are heartened and proud that our credit rating has been confirmed. Our goal has been to build a bank that will live up to its brand promise of "Caribbean pride, international strength, and partnership with our various stakeholders. We are proud of FirstCaribbean, and independent recognition of our achievements, such as this, increases that pride. I am fortunate to lead an excellent team, not only within our management ranks, but also throughout all levels of FirstCaribbean. This affirmation of the quality of their performance is a testament to their commitment to taking FirstCaribbean even further on its journey to being the bank of choice in the Caribbean."
Zur Webseite von FirstCaribbean Bank...
|
