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European banks seek to claw back share of commodity lending

* European banks say keen to increase lending* Private investors, Asian banks steal market shareBy Emma FargeGENEVA, June 6 European banks trying to make a comeback in commodity trade finance may struggle to regain their dominance from the Asian banks and new types of lenders that have stepped in to replace them. Many European banks in the $1.5 trillion a year business of lending to traders to finance commodity transactions ceded ground to competitors as new regulations aimed at preventing a repeat of the 2008 crisis forced them to cut lending. Official data is hard to come by, but pan-African lender Ecobank estimates that European banks' share of the global commodities trade finance business has shrunk to 50 percent from around 75 percent over the past few years as giants like French lenders BNP Paribas and Credit Agricole retrenched. Now bankers say they want to come back."The European banks had no choice but to shrink their balance sheets and sell assets. People are now saying we are done, let's make some money again," said a senior source at a European bank at Euromoney's Global Commodities Finance Conference in Geneva this week.

A second senior source in a European bank said: "The French banks have come back and are in a much better position than they were in a few years ago. They are recapitalised and now operating up and down the foodchain."But industry participants are sceptical that they will be able to control the market as before."I can't see them becoming dominant again," said Jean-Francois Lambert, global head of commodity and structured trade finance at HSBC.

He said it would be particularly difficult for euro zone banks to step up lending should commodity prices recover after a steep sell-off in April. A return to contango in commodity markets, where future prices are above current prices, could also make it difficult for banks to compete since it would increase future financing costs, he said. NEW INVESTORS European banks will have a lot of catching up to do in important commodity markets such as Asia. The share of European and U.S. banks there fell 10 percentage points to 21 percent in the first quarter of 2013 compared with 2010, according to Thomson Reuters data. The data excludes Japan.

As banks cut lending, private investors and hedge funds have stepped in to offer short-term liquidity to fill the gap. In an indication of the trend, Jacques Begle, a former BNP Paribas banker who set up trade finance specialist Commodity Trade Invest, told Reuters his firm is talking to a hedge fund to launch at a $500 million fund for oil and petrochemicals later this year. Industry sources said that large trading houses have also stepped up lending and are loaning some of their working capital, worth hundreds of millions of dollars. Switzerland-based Trafigura, the world's third- biggest trader in raw materials, is also expanding its fund arm Galena which has a specific fund devoted to commodity trade finance. Edward George, head of soft commodities research at Ecobank which is active in commodities lending in Africa, said that the growth of so-called supertraders like Vitol and Glencore, who have their own sources of finance meant more competition for the banks."I expect a shift towards a 50/50 partnership model between banks and commodity traders, with both parties splitting the risk," he said.

Fitch mengafirmasi peringkat mpm finance di a (idn) stabil

(The following statement was released by the rating agency) JAKARTA/TAIPEI/SINGAPORE, January 16 (Fitch) Fitch Ratings telah mengafirmasi peringkat Nasional Jangka Panjang PT Mitra Pinasthika Mustika Finance (MPM Finance) di 'A-(idn)'. Outlook adalah Stabil. Peringkat mencerminkan ekspektasi Fitch bahwa MPM Finance akan menerima dukungan dari perusahaan induknya, PT Mitra Pinasthika Mustika Tbk (MPM; 'A(idn)'/Stable), jika diperlukan. Prospek stabil mencerminkan ekspektasi Fitch bahwa MPM akan terus medukung MPM Finance, jika dibutuhkan. Peringkat nasional di kategori 'A' menunjukkan ekspektasi akan resiko gagal bayar yang rendah relatif terhadap emiten atau surat utang lainnya di Indonesia. Namun adanya perubahan pada keadaan atau kondisi ekonomi bisa saja mempengaruhi kapasitas untuk membayar secara tepat waktu dibandingkan komitmen keuangan yang ditunjukkan oleh kategori peringkat yang lebih tinggi. Faktor-faktor Penggerak Peringkat Pandangan Fitch akan besarnya kecenderungan dukungan yang tepat waktu dari MPM didasarkan pada kepentingan strategis MPM Finance untuk bisnis otomotif MPM. Hal ini diperkuat dengan 100% kepemilikan MPM atas MPM Finance. MPM Finance memiliki peran penting dalam bisnis otomotif MPM sebagai penyedia layanan pembiayaan mobil. Kualitas aset MPM Finance melemah dengan rasio pinjaman bermasalah (NPL) naik menjadi 2.6% terhadap total piutang pembiayaan bersih di akhir September 2013 (2012: 1.7%). Hal ini disebabkan terutama oleh memburuknya kualitas aset dari debitur yang bergerak di sektor komoditas. Pihak manajemen MPM Finance telah mengimplementasikan langkah untuk memperbaiki kualitas aset dengan membentuk tim khusus yang fokus pada pemulihan pinjaman bermasalah berjalan dan penguatan proses penagihan. Dalam jangka pendek dan menengah, Fitch memperkirakan bahwa profitabilitas akan berada didalam tekanan akibat biaya kredit kemungkinan meningkat dalam jangka pendek dan menengah disebabkan oleh perlambatan yang berkepanjangan pada sektor komoditas. Sensitivitas Peringkat Peringkat MPM Finance akan bergerak bersamaan dengan peringkat perusahaan induk, MPM. Penurunan kepemilikan atau dukungan untuk MPM Finance, atau melemahnya kepentingan strategis MPM Finance untuk MPM akan memberikan tekanan terhadap peringkat MPM Finance. Kontak: Analis Utama Stefanus Yuniardhi PT Fitch Ratings Indonesia Financial Institution DBS Bank Tower 24th Floor, Suite 2403 Jl. Prof. Dr. Satrio Kav 3-5 Jakarta, Indonesia 12940 +62 21 2988 6809 Analis Kedua Iwan Wisaksana Director +62 21 2988 6807 Ketua Komite Jonathan Lee Senior Director +886 2 8175 7601 Media Relations: Leslie Tan, Singapore, Tel: +65 67 96 7234, Email: leslie.this site Catatan: Peringkat Nasional Fitch menggambarkan ukuran relatif atas kredibilitas entitas yang diperingkat di negara-negara yang memiliki peringkat sovereign relatif rendah dan ada kebutuhan untuk dilakukan pemeringkatan dimaksud. Peringkat terbaik di suatu negara adalah 'AAA' dan peringkat lainnya menggambarkan tingkat risiko relatif terhadap peringkat 'AAA'. Peringkat nasional dirancang untuk digunakan oleh sebagian besar investor lokal di pasar lokal dan diidentifikasi dengan menggunakan tambahan tanda sesuai dengan negara masing-masing. Sebagai contoh 'AAA(idn)' untuk Peringkat Nasional di Indonesia. Karenanya, peringkat ini tidak dapat dibandingkan secara internasional. Informasi tambahan tersedia di this site Peringkat tersebut diatas telah diminta, atau atas nama, emiten, dan oleh karena itu, Fitch telah memperoleh kompensasi atas pemeringkatan tersebut. Kriteria terkait, "Global Financial Institutions Rating Criteria", tertanggal 15 Agustus 2012, "Finance and Leasing Companies Ratings Criteria", tertanggal 12 Desember 2012, "Rating FI Subsidiaries and Holding Companies", tertanggal 10 Agustus 2012, dan "National Scale Ratings Criteria", tertanggal 30 Oktober 2013, dapat dilihat di website Fitch di this site Applicable Criteria and Related Research: Global Financial Institutions Rating Criteria here Finance and Leasing Companies Criteria here Rating FI Subsidiaries and Holding Companies here National Scale Ratings Criteria here ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: here. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW. FITCHRATINGS. COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

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