S&P rates E.Sun Bank

Standard & Poor's said it assigned its BBB long-term and A-2 short-term counterparty credit ratings to E.Sun Commercial Bank Ltd.

The outlook on the long-term rating is stable.

At the same time, Standard & Poor's assigned its C+ bank fundamental strength rating to the bank.

The ratings reflect E.Sun Bank's good asset quality and prudent risk control, its sound capacity to generate earnings and its increasingly competitive position after its acquisition of Kaohsiung Business Bank in September 2004, the agency noted.

Counterbalancing factors include potential risks as a result of expansion and challenges due to intensifying domestic competition, S&P added.

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