Fitch rates ANZ Panin Bank AA+(idn)

Fitch Ratings said it assigned a national long-term rating of AA+(idn) to PT ANZ Panin Bank.

The outlook is stable.

The ratings take into account the bank's financially strong Australia-based parent, the Australia & New Zealand Banking Group, which is rated AA- with stable view.

Fitch said it believes that the parent bank's commitment to ANZ Panin is reflected in its 85% stake, management control and operational alignment in key areas such as risk management, systems, operating procedures and reporting standards.

The agency said it understands that the parent is committed to transforming it into a sizeable bank, with Indonesia identified as one of the highest priority markets.

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