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Fitch affirms Bank SinoPac
Fitch Ratings said it affirmed the issuer default ratings of SinoPac Financial Holdings Co. Ltd. and its principal subsidiary Bank SinoPac at BBB.
The outlook is stable.
The viability ratings were affirmed at bbb.
The agency simultaneously affirmed the issuer default rating of Bank SinoPac (China) at BBB-.
Fitch said the affirmation reflects a belief that Bank SinoPac will sustain its healthy asset quality and capitalization in a broadly steady economy in Taiwan amid a gradual slowdown in China's economy.
The ratings also consider its moderate and stabilizing profitability, the agency said.
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