Moody's rates Taipei Fubon Bank BSFR C-

Moody's Investors Service said it assigned ratings to Taipei Fubon Bank, formed through the merger of Fubon Bank and Taipei Bank on Jan. 1, including a C- bank financial strength rating and A3/ Prime-1 long- and short-term deposit ratings. The outlook is stable.

Moody's said the new Taipei Fubon Bank has considerably enhanced the scale of its operations serving a larger combined customer base with broader distribution network and product offerings.

Taipei Fubon Bank has a strong franchise due to its established relationships with the Taipei City government, according to Moody's. The bank is the city government's treasury bank and the exclusive operator and clearing bank for the national lottery business.

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