Moody's affirms Kasikornbank

Moody's Investors Service said it affirmed Kasikornbank PCL's Baa3 long-term scale rating, Baa1/prime-2 long-term foreign-currency deposit rating, A3/prime-2 foreign-currency senior debt rating and foreign-currency subordinated debt rating of Baa1.

The outlook is stable.

The affirmations are based on the bank's audited financial statements for 2010 and the first half of 2011, Moody's said.

The ratings remain constrained by weaker tier I capital ratios when compared to its global and local peers; the agency said, and relatively high single-borrower concentrations.

Also, the bank has a lower level of capitalization when compared to its local competitors, Bangkok Bank PCL and Siam Commercial Bank PCL, Moody's said.

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