According to a spokesperson for First Prime Group, the current credit crisis can be attributed to a succession of excesses. First Prime analysts have apparently deduced that securitization can be a valuable financial instrument, but one that loses its power when pushed to its limits.
Sources say that First Prime spokesperson recently stated that the firm possesses a solid credit policy, an approval process and an established culture of utilising common sense.
In a recent interview, First Prime took the opportunity to explain how the evolution of market trends has inspired First Prime’s sharpened strategic focus on banking, investments as well as the plethora of other services offered by First Prime. A spokesperson for First Prime reportedly commented that clarity would focus the type of investments that the firm would make in up-and-coming countries with a large population or a fast-growing GDP.
According to sources close to First Prime, the firm began 2008 with a substantial capital surplus and the potential to generate even more capital.
