CIMB's ratings unchanged after BOC acquisition: RAM Ratings

CIMB Bank Bhd's proposed acquisition of a 60 per cent stake in Philippines-based Bank of Commerce has no immediate rating impact.

Based on their assesment, the proposed acquisition is expected to have minimal impact on the bank's key financial indicators, RAM Ratings said.

"CIMB's overall risk-weighted capital-adequacy ratio is likely to remain above 15 per cent after the acquisition, which is anticipated to be completed sometime this year," it explained.

BOC is a relatively small bank given its position as the sixteenth-largest commercial bank out of 38 universal and commercial banks in the Philippines.

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