China Minsheng Bank assigned 'A-' long-term issuer rating -Xinhua Far East |
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Published
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Thu, 11 Jan 2007 09:17
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BEIJING (XFN-ASIA) - Xinhua Far East China Ratings said it has assigned China Minsheng Bank Corp (CMBC) an 'A-' long-term issuer rating, reflecting its position as the fastest-growing listed national commercial bank in China.The rating outlook is stable.In a statement, Xinhua Far East said CMBC's rapid growth is a result of its innovative culture and incentive schemes.But the ratings agency said it is concerned about the bank's aggressive growth strategy and mounting risks in its relatively concentrated loans portfolio.Xinhua Far East also highlighted CMBC's continued financing needs due to more stringent capital requirements and the limited financial capacity of its major shareholders.The bank also has liquidity risk challenges as most of its deposits come from corporate clients, Xinhua Far East said.Xinhua Far East is part of the credit ratings division of Xinhua Finance, which owns the Xinhua Financial Newswire.will.davies@afxasia.com
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