...CITIC Ka Wah Bank's (CKWB) ratings reflect its sound capitalisation and good longterm business prospects after ownership changes in the past two years. In October 2009, the bank's ultimate controlling parent, the CITIC Group, one of China's major conglomerates, transferred its 70% stake in CITIC International Financial Holdings Limited (CIFH), CKWB's holding company to its majority owned mainland bank, China CITIC Bank (Individual Rating: `C/D'). The remaining 30% of CIFH is held by Spain's Banco Bilbao Vizcaya Argentaria (BBVA; IDR: `AA'/Positive) rendering BBVA a strategic partner of the CITIC Group in managing the bank. Overall, these developments will enable CKWB to better coordinate strategy and resources with its parents, improve its capability to meet customers' crossborder financing and banking needs, particularly into and out of China, and enhance its overall risk management capabilities....
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