Fitch affirms National Development Bank

Fitch Ratings said it affirmed the national long-term rating of National Development Bank plc at AA(lka), along with the bank's subordinated debentures at AA-(lka).

The outlook remains stable.

The ratings reflect a strong financial profile in terms of its high capital base, good profitability and asset quality.

The ratings are constrained by the bank's modest asset base and relatively short operating history as a licensed commercial bank, the agency said.

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