Fitch affirms Kasikornbank

Fitch Ratings said it affirmed Kasikornbank Public Co. Ltd.'s long-term foreign currency rating at BBB+ with a stable outlook, short-term foreign currency at F2, foreign currency subordinated at BBB, individual at C and support at 2.

At the same time, Fitch (Thailand) said it affirmed Kasikornbank's national long-term rating at AA(tha) with a stable outlook, national short-term at F1+(tha) and national subordinated at AA-(tha).

Kasikornbank's ratings reflect the sustained improvement in profitability, asset quality and capital, its strong domestic banking franchise in the middle market, corporate and retail banking, as well as a good management track record, the agency said.

Fitch said the ratings also factor in the high probability of government support due to its systemic importance.

The outlook for the ratings is stable given underlying profitability and asset quality should be maintained notwithstanding some weakening in the economic growth outlook for 2005, Fitch noted.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.