Fitch affirms Kasikorn

Fitch Ratings said it affirmed Kasikornbank PCL's long-term foreign-currency issuer default rating at BBB+.

The outlook is stable.

The ratings reflect the bank's robust profitability, asset quality and capital, as well as its strong domestic banking franchise in the SMEs, corporate and retail banking segments, Fitch said.

Its solid capital and reserve cushion could allow it to withstand a severe credit stress, the agency said, and this is considered key in affirming the bank's ratings.

Despite the weak operating environment and political turmoil over the past two years, the bank's profitability also has been resilient, Fitch said.

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