Fitch rates Bank Commonwealth AAA(idn)

Fitch Ratings said it assigned PT Bank Commonwealth a national long-term rating of AAA(idn).

The outlook is stable.

Fitch said the rating reflects the support from its financially strong parent, the Commonwealth Bank of Australia, which has a long-term issuer default rating of AA and stable view.

Notwithstanding the bank's relatively weak operating profitability over the past few years due to rapid expansion growth, the presence and commitment of its parent shareholder should help mitigate risks associated with the bank's expansion into Indonesia's market, the agency said.

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