SoCal Korean Banks’ Rated Highly for Management

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Korean banks across Southern California received the highest rating in the first quarter for their top quality management.

Financial analysis firm BauerFinancial’s reported, released on May 30, gave a 5-star rating to Southern California-based Bank of Hope, Hanmi Bank, Pacific Bank, CBB Bank, Uniti Bank, US Metro Bank, Woori America and Shinhan America. Those banks also received five stars at the end of the fourth quarter last year. The management ratings are based on asset solvency, revenue generation, credibility and reputation.

BauerFinancial’s star ratings are on a scale of one to five stars. Five stars obviously mark the best quality banks, while one star is the poorest score. Three stars are usually deemed above average, while two marks average. One or no star means that the banks have serious problems.

“The scores mean that the Korean banks are rated highly on their efficient management skills,” said an anonymous source within the finance industry.

By Sungcheol Jin