Released
on: June 02, 2009, 9:50 am
Author: Michael Byrne./ BankRx.com
Industry: Financial
6/01/09
Bridgewater, NJ: - www.bankrx.com
has released RxIndex, a reliable and accurate measure of financial
health of banks. The index is percentile ranking of the vitality
and robustness of a given bank’s
financial health banks with respect to the banks nationwide.
The scoring is based on a number of macro and micro economic data.
RxIndex can be used by a bank to reduce FDIC insurance premium,
prepare for regulators, improve its credit worthiness, and minimize
risk exposure vis-a-vis other banks. A very low RxIndex indicates
a high probability of default.
Determining
a bank’s financial health is a complex matter. RxIndex encapsulates
the inherent complexity of this process with the simplicity of
a single score. This score will enable investors, analysts, bank
personnel, consumers and job seekers to gauge the probability
of a bank’s success.
BankRx
is a web based service providing financial
data and analytics to the banking and financial services professional.
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.
RxIndex is available for free to all levels of subscribers for
the first thirty days.
The
founders of BankRx have over 100 years combined banking experience.
This experience is used to identify and accurately present the
pertinent data in both a user friendly and economical manner.
Banking executive George Patellis states, “The Rx Index
is useful because it is easy to understand the score, which represents
so much data. It is also very insightful to compare the capital
adequacy and asset quality ratios within a peer group. The peer
analysis model developed by BankRx is very comprehensive and has
saved us a significant time and effort.”
Included
as well is a post-mortem section, which takes a look at the statistics
of recently failed banks. BankRx CEO Sunil Choudhary notes, “BankRx
provides information that makes it easy for banks to measure their
risk and prepare them for the new era of risk-based regulations.
While our analytics are targeted at assisting banks analyze and
reduce their risks, we want to point out that 80% of the 34 banks
that failed so far this year, had a RxIndex of 2 or less out of
a 100.”
BankRx Contact Information:
Michael
Byrne
BankRx
1200 Route 22 East, Suite 2000
Bridgewater NJ 08807
(215) 366-2732
Michael.Byrne@BankRx.com
www.BankRx.com
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