Meeting of Shanghai Cooperation Organisation being attended by 12 countries; India's Jaishankar supports regional cooperation but stresses mutual respect
asia1 hour ago
The short-term foreign currency rating is affirmed at A3 and the outlook for all the ratings is stable. The ratings upgrade was underpinned by the continuing improvement in NBQ's financials, particularly asset quality and capitalisation.
NBQ has been run conservatively since inception, with strong capitalisation being an overriding concern of the board. It has therefore remained small in terms of size and scope of operations.
At end 2005, the bank had total assets of a little over $1 billion. Competitive pressures and the mushrooming financing opportunities in the region have encouraged the board to increase capital and to formulate new strategies.
New talent has been hired, processes and systems have been improved and the technology base has been strengthened.
NBQ's asset quality is strong; it has few bad debts and these are well provided for. Moreover, the loan book is being diversified.
Profitability ratios have been consistently strong; although the rising large-corporate loan portfolio could narrow spreads in the future.
Fee-earning opportunities are expected to grow. NBQ is solidly capitalised. Capital presently funds a part of the loan book, but future credit expansion will have to be supported by higher levels of customer deposits. The liability base is being diversified.
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