Fitch affirms Ceska

Fitch Ratings said it affirmed Ceska Sporitelna's long- and short-term issuer default ratings at A and F1, respectively.

The outlook for the long-term issuer default rating is positive, Fitch said, adding that it has also affirmed Ceska's individual rating at B/C and support rating at 1.

"Ceska's individual rating reflects its solid retail franchise in the Czech Republic, satisfactory asset quality, sound risk management and strong profitability. This is balanced by a rapidly growing residential loan book, albeit from a low level," said Zarema Lyanova, associate director in Fitch's financial institutions team.

"Ceska has an increasing exposure to the domestic real estate sector, which has yet to be tested."

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