Fitch affirms Wing Hang Bank

Fitch Ratings said it affirmed Wing Hang Bank Ltd.'s long-term issuer default rating at A-, short-term issuer default rating at F2 and BBB+ ratings on its subordinated notes.

The outlook remains stable.

The ratings reflect the bank's prudent management, sound asset quality, adequate capitalization and good profitability, Fitch said.

Lower net interest margins due to intense competition and abundant liquidity were more than offset by a strong increase in fee income from high stock brokerage volume and solid demand for wealth management services amid buoyant stock market conditions, the agency said.

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