Fitch affirms E Sun

Fitch Ratings said it affirmed the ratings of Taiwan's E Sun Bank (ESB) and E.Sun Securities Corp. (ESS), including ESB's individual at C and support at 4 as well as ESS's national long-term A-(twn) with stable outlook, national short-term F2(twn), individual D and support 3.

The ratings of ESB primarily reflect its good performance, prudent credit culture and sound capitalization, the agency said.

Increased delinquency of its cash/credit cards lending will depress its short-term performance, but Fitch said it considers the overall cards-related risk manageable.

Meanwhile, the ratings of ESS primarily reflect its robust capital position, adequate risk management and the strong group support from its parent, Fitch added.

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