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Fitch affirms Tunisia banks
Fitch Ratings said it affirmed the support ratings for Societe Tunisienne de Banque (STB), Banque Internationale Arabe de Tunisie (BIAT) and Union Bancaire pour le Commerce et l'Industrie (UBCI) at 2.
The rating for STB reflects the high probability of support from the Tunisian government in case of need, given its 52.5% ownership by the Tunisian state, the agency said.
Fitch said the support rating for BIAT considers the strong potential of state support, based on BIAT's importance to the local banking system as the third largest bank in Tunisia.
In the case of UBCI, Fitch said the rating reflects the high probability of support that would be provided by its 50.8% owner BNP Paribas (AA/F1), should the need arise.
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