MUMBAI (Thomson Financial) - Taiwan Ratings Corp. said it has affirmed its 'twAA-' long-term and 'twA-1+' short-term counterparty credit ratings on Taiwan-based Hua Nan Commercial Bank Ltd.
The outlook on the long-term rating is stable.
Fitch said the ratings reflect the bank's strong market position, satisfactory liquidity, adequate asset quality and capitalization, while counterbalancing factors include the bank's moderate profitability.
Furthermore, the decision to merge Hua Nan Bills Finance Corp. with Hua Nan Bank is unlikely to 'significantly' alter the capitalization or credit profile of the bank, Fitch added.
The stable outlook reflects Fitch's expectation that despite strong competition, Hua Nan Bank's strong market position and its large, diverse funding base should enable it to maintain its adequate financial profile over the next two to three years.
Hua Nan Bank is the core subsidiary of Hua Nan Financial Holding Co. Ltd. tfn.newsdesk@thomson.com pvi/ypv COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
The outlook on the long-term rating is stable.
Fitch said the ratings reflect the bank's strong market position, satisfactory liquidity, adequate asset quality and capitalization, while counterbalancing factors include the bank's moderate profitability.
Furthermore, the decision to merge Hua Nan Bills Finance Corp. with Hua Nan Bank is unlikely to 'significantly' alter the capitalization or credit profile of the bank, Fitch added.
The stable outlook reflects Fitch's expectation that despite strong competition, Hua Nan Bank's strong market position and its large, diverse funding base should enable it to maintain its adequate financial profile over the next two to three years.
Hua Nan Bank is the core subsidiary of Hua Nan Financial Holding Co. Ltd. tfn.newsdesk@thomson.com pvi/ypv COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
© 2008 AFX News
