Fitch affirms OCBC NISP

Fitch Ratings said it affirmed PT Bank OCBC NISP Tbk.'s long-term foreign- and local-currency issuer default ratings at BBB, short-term foreign-currency issuer default rating at F3, national long-term rating at AAA(idn), viability rating at bb, support rating at 2 and subordinated bond at AA(idn). The outlook is stable.

The agency said the ratings reflect continued support and commitment from the bank's financially strong parent bank, Oversea-Chinese Banking Corp. (AA-/stable). The viability rating reflects OCBC NISP's medium size, consistent asset quality and satisfactory capital position despite its lower profitability compared with peers, Fitch added.

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