Moody's affirms Bank of Taiwan

Moody's Investors Service said it affirmed Bank of Taiwan's long- and short-term deposit ratings at Aa3 and prime-1 as well as its bank financial strength rating at D+, after its July 1 merger with the Central Trust of China.

The merger's overall impact on the bank's financials is not expected to be significant, given its sufficient capital base relative to its peers, Moody's said.

Central Trust's outstanding loans and deposits comprised 15% and 8% of those of Bank of Taiwan's. As such, the bank said Central Trust's integration will be manageable given the latter's relatively small size and the former's experience in merging credit cooperatives, the agency said.

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