Fitch affirms Kasikornbank

Fitch Ratings said it affirmed Kasikornbank PCL's long-term foreign-currency issuer default rating at BBB+ and its national long-term rating at AA+(tha).

The outlooks are stable.

At the same time, Fitch affirmed the national long-term rating on Kasikorn Securities PCL at AA(tha) with a stable outlook.

The agency said the bank’s ratings take into consideration its strong domestic franchise as one of the largest banks in Thailand, as well as its leadership in small business lending.

The rating also reflects KBank's weakening profitability during the past few years, which may remain lower than that of its global rating peers over the medium term, Fitch added.

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