Fitch affirms Maybank

Fitch Ratings said it affirmed Malayan Banking Bhd.'s A- long-term foreign-currency issuer default rating.

The outlook is stable.

"The rating affirmation recognises Maybank's dominant domestic presence, satisfactory balance sheet and steady earnings profile," Alfred Chan, a director at Fitch, said in a statement.

"The stable outlook indicates dim prospects for an upgrade to the bank's ratings, which are among the highest of rated domestic banks - and even among many banks in emerging economies."

Maybank's strong domestic franchise underlines its status as the largest Malaysian banking group, which in turn underpins revenue stability and its sound deposit base, the agency said.

With a firm footing in the home market, the bank has been pursuing growth abroad in Southeast Asia, which Fitch believes is likely to increase diversification and benefit its reputation over the long term, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.