Fitch affirms Bank Syariah Mandiri

Fitch Ratings said it affirmed PT Bank Syariah Mandiri's national long-term rating at A+(idn) and the bank's subordinated Islamic bond I/2007 at A(idn).

The outlook is stable.

The rating is driven by support from its parent bank, state-owned Bank Mandiri (Persero) Tbk, which is rated BB/AA+(idn), Fitch said. The bank's financial performance also has improved, albeit from a moderate base, the agency said.

The rating also reflects the bank's ability to meet its financial commitment on a timely basis, Fitch said.

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