Fitch affirms King's Town Bank

Fitch Ratings said it affirmed King's Town Bank's long-term foreign-currency issuer default rating at BB+, short-term foreign-currency issuer default rating at B, national long-term rating at A-(twn) and national short-term rating at F1(twn).

The outlook is stable.

The ratings consider its moderate risk appetite that renders modest profitability, satisfactory liquidity, sound capitalization and adequate asset quality, Fitch said, and also take into account its small franchise and limited diversity in terms of geography and revenue mix.

The bank positions itself as a boutique regional financial services provider, aiming to establish a solid market foothold in southern Taiwan, the agency said.

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