For Immediate Release:
5/19/09 Bridgewater, NJ:
The creators of www.bankrx.com are providing real data to analyze a bank's health using key ratios. The newly formed company has created the BankRx Index to gauge the probability of a bank's success. The beauty of the BankRx Index is that a conclusive number is rendered, similar to taking one's temperature to gauge one's physical health. This estimated probability gives us a measure of the "bank health". The model is based on economically sound principles of bank success, and we apply these concepts to practice by using state-of-the art statistical models. The BankRx Index is a great tool for banking executives to utilize in preparing for regulators and managing risk.
The information on the site can be utilized by consumers, job seekers, potential investors, analysts, and bank personnel as well. The key ratio data regarding capital adequacy, income data, and asset quality provided by BankRx will give one at the very least enough information to ask pertinent questions about a specific banks current health. Consumers, analysts, and bankers alike will benefit from utilizing the peer groups available to measure and contrast similar institutions' key ratios on www.bankrx.com .
The founders of BankRx have over 100 years combined banking experience in compliance, consumer banking finance, risk management, and mortgage banking. This experience allows them to make pertinent data available in both a user friendly and economical manner, while maintaining relevance. Banking executive George Patellis states, "The BankRx Index is useful in that it is easy to understand the score, which factors so much data. It is also very insightful to compare the capital adequacy and asset quality ratios within a peer group."
Included as well is a post-mortem section, which takes a look at the statistics of recently failed banks. Applying the BankRx Index to the failed banks yields shows a strong positive correlation. BankRx CEO Sunil Choudhary notes, "Of the 32 failed banks year to date, 80% belonged in the bottom 2% of the BankRx Index. This, along with our ratio analysis, allows one to analyze their risk and what it means to their capital requirement. BankRx provides information that makes it easy for banks to measure their risk and prepare them for the new era of risk-based regulations."
BankRx Contact Information:
Michael Byrne
Account Executive
BankRx
1200 Route 22 East, Suite 2000
Bridgewater NJ 08807
(215) 366-2732
Michael Byrne
Mortgage Specialist
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