Fitch affirms China Banking, Rizal Commercial

Fitch Ratings said it affirmed the ratings of China Banking Corp. and Rizal Commercial Banking Corp. The ratings reflect its good earnings and balance-sheet strength, Fitch said, adding that the bank has a good loss-absorption capacity to ride out the current downturn.

The agency said it expects that some deterioration in the bank's asset quality may occur over the next 12 to 18 months as a result of the economic downturn.

However, its satisfactory earnings capacity and capitalization and high NPL reserve coverage are mitigating factors in preserving the bank's credit profile, Fitch said.

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