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Rating Action: Moody's Assigns Prime-1 short-term issuer rating to Morgan Stanley Bank, N.A. New York, April 18, 2019 -- Moody's Investors Service (Moody's) today assigned a Prime-1 short-term issuer rating to Morgan Stanley Bank, N.A. (MSBNA, A1 deposit and issuer ratings, stable). Moody's said MSBNA's existing ratings and stable outlook are unaffected by today's rating action.
Moody's Investors Service has today affirmed all ratings of DVB Bank S.E. (DVB), and upgraded the entity's Baseline Credit Assessment (BCA) to baa2 from b3. The rating action was triggered by the bank's announced sales of its non-shipping loan portfolios and aligns the BCA of DVB, a wholly owned domestic subsidiary of DZ BANK AG (DZ BANK, deposits Aa1/senior unsecured Aa1 stable, BCA baa2), with its parent's BCA.
Moody's Japan K.K. has assigned a (P)A1 rating to MUFG Bank, Ltd., (MUFG Bank) Auckland Branch's NZD1 billion transferable certificates of deposit (TCD) program. At the same time, Moody's has assigned an A1 rating to the TCD issued under the TCD program. Moody's has also assigned Counterparty Risk Assessments (CR Assessments) of A1(cr) to MUFG Bank Auckland Branch.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Morgan Stanley and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of MUFG Americas Holdings Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Rating Action: Moody's Assigns Ratings (A1 Deposits) to Morgan Stanley Private Bank, N.A. Moody's said MSPBNA has a stable outlook. Moody's said MSPBNA is an indirect wholly owned subsidiary of Morgan Stanley (MS, A3 issuer rating, stable).
Moody's Japan K.K. has assigned a (P)A1 rating to USD senior unsecured shelf registration of Mitsubishi UFJ Financial Group, Inc. (MUFG), and A1 ratings to the USD senior unsecured bonds. The rating outlook is stable.
Moody's Japan K.K. says that Japan's two largest banking groups by assets -- Mitsubishi UFJ Financial Group, Inc. (MUFG, A1 stable) and Sumitomo Mitsui Financial Group, Inc. (SMFG, A1 stable) -- share similar credit strengths, while both are also exposed to the contingent liabilities posed by their leasing subsidiaries. "While the primary banking subsidiaries of the two groups have baseline credit assessments (BCAs) of a3, indicating similar credit strength, capitalization and profitability are relative strengths for SMFG, while a greater degree of geographic diversification underpins MUFG's credit profile," says Shunsaku Sato, a Moody's Vice President and Senior Credit Officer.
Moody's Japan K.K. says that its outlook for Japan's banking system is stable, as it has been since 2012, reflecting the expectation that the banks will continue to have strong liquidity at home and sufficient capital, even though pressure on profitability will persist and asset risks are slowly increasing. "Support will come from a stable operating environment, and we forecast that Japan's GDP will continue to increase, by 1.1% in 2018 and 1.0% in 2019, while the unemployment rate will decline further," says Tetsuya Yamamoto, a Moody's Vice President and Senior Credit Officer. "Japan's continued accommodative monetary policy will help the economy sustain growth and, if the Bank of Japan (BOJ) tightens monetary policy, which we do not expect to occur during this outlook period, higher rates will help increase interest income for banks," says Yamamoto.
Moody's Japan K.K. has affirmed the commercial paper ratings of Prime-2 of Hitachi Capital Corporation (Hitachi Capital) and Hitachi Capital America Corp. At the same time, Moody's has removed stable outlook at the issuer level as short-term ratings do not carry rating outlooks.
Saburo Araki said he’s giving a high priority to what he describes as the difficult task of stamping out staff harassment since he took over in April as head of Mitsubishi UFJ Financial Group Inc.’s brokerage venture with Morgan Stanley. “I have come across several harassment complaints from employees since I arrived,” said Araki, chief executive officer at Mitsubishi UFJ Morgan Stanley Securities Co. “I want to eradicate it, but it will be difficult to root out,” he said in an interview in Tokyo. In Japan, awareness of power harassment, known locally as “power hara,” has been increasing due to high-profile sports scandals and rising instances of workplace bullying in a country where respect for authority is prized.
Moody's Japan K.K. says that the fiscal 2017 results for Japan's three megabanks show the challenges they continue to face in improving core revenue, both at home and overseas, although their buildup in capital is credit positive. "Also on a positive note, asset quality improved at all three banks from already strong levels, while credit costs declined, and retained earnings and reduced equity holdings raised capital ratios," says Tetsuya Yamamoto, a Moody's Vice President and Senior Credit Officer. The three megabanks are Mitsubishi UFJ Financial Group, Inc. (MUFG, A1 stable), Mizuho Financial Group, Inc. (A1 stable) and Sumitomo Mitsui Financial Group, Inc. (SMFG, A1 stable).
Mitsubishi UFJ Financial Group Inc said on Thursday Jon Lindenberg has been promoted to head of investment banking for the Americas. Lindenberg, previously deputy head of investment banking and head of ...
Mitsubishi UFJ Financial Group (MUFG) reports impressive earnings for fiscal 2017 (Mar 31, 2018), driven by low credit costs and strong deposits.
Japan's biggest banks have begun major revamps of their domestic retail networks, as the cost of maintaining traditional branches weighs heavily at a time of diminishing revenue and a shift in how consumers conduct financial transactions. Mitsubishi UFJ Financial Group Inc (MUFG) , Japan's largest lender, said on Tuesday it will cut its number of domestic branches by 20 percent over six years from about 500. Under the plan, part of a medium-term strategy, MUFG said the number of conventional retail branches will be halved, as many will be replaced by self service-style branches.
Mitsubishi UFJ Financial Group (MUFG) is scheduled to report fourth-quarter fiscal 2018 (ended Mar 31, 2018) results on May 15. Let's see how the company will perform this time.
The Zacks Analyst Blog Highlights: Autohome, Kingdee International Software Group, Mitsubishi UFJ Financial Group and Woori Bank
HOUSTON, May 1, 2018 /PRNewswire/ -- PurePoint® Financial, a hybrid digital bank and division of MUFG Union Bank, N.A. aimed at committed savers, this week introduced a new art gallery within its Financial Center at The Woodlands. Lynn Lane, an intermedia artist and Houston native, is the official photographer for the Houston Grand Opera and Alley Theatre. Recently named the "Best Photographer in Houston" by the Houston Press and one of the "Top Five Creatives to Watch in 2018" by Free Press Houston, he also teaches photography courses at the Houston Center for Photography and has had his work published internationally.
Japan’s biggest bank has been accused by New York officials of dodging tough oversight by swapping its state license for a federal one, putting itself under a U.S. agency on the front lines of President ...