Credit rating

Global Credit Rating Co. Ltd (GCR) upgraded our long-term issuer rating from AA- to AA and maintained short term issuer rating of A1+, with a stable outlook. The ratings upgrade reflects sustained improvement in the bank's credit risk profile, underpinned by strong capitalisation, a good risk position, and adequate funding and liquidity profile. The Stable outlook reflects the agency's expectation for a sustained financial performance, strong risk management framework and robust liquidity profile.

Agusto & Co.  affirmed our long-term and short-term issuer ratings at Aa and A1+ respectively and also retained a stable outlook. The rating is anchored on the bank's consistently strong financial performance, robust capitalisation, disciplined credit risk management, sound liquidity position, and an experienced management team. The Agency expects the bank’s core metrices and asset quality to remain resilient, and thus, attached a Stable outlook to the rating. The Agency also maintained the bank’s Environmental, Social and Governance (ESG) contribution score. The assigned score of ‘2’ implies that the bank’s ESG ‘issues’ have minimal contribution to credit risk.