Fitch affirms three Sri Lanka banks

Fitch Ratings said it affirmed the national long-term ratings of Bank of Ceylon, Commercial Bank of Ceylon plc and Sampath Bank plc.

Bank of Ceylon's national long-term rating was affirmed at AA(lka) and subordinated debentures at AA-(lka). The outlook is positive.

Commercial Bank of Ceylon's national long-term rating was affirmed at AA(lka) and subordinated debentures at AA-(lka). The outlook is stable.

Sampath Bank's national long-term rating was affirmed at AA-(lka) and subordinated debentures at A+(lka). The outlook is stable.

Bank of Ceylon's ratings reflect its high systemic importance as the largest bank of Sri Lanka, its state ownership and its strong franchise, Fitch said.

Commercial Bank of Ceylon's ratings reflect its strong franchise, sound profitability and its strong capital position, the agency said.

Sampath Bank's ratings reflect its strong and growing franchise, sound profitability and its strong capital structure, Fitch added.

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