Fitch affirms Development Credit Bank

Fitch Ratings said it affirmed Development Credit Bank Ltd.'s national long-term BBB(ind) with stable outlook and its Rs. 1 billion lower tier 2 subordinated debt program at BBB(ind).

Ratings take into account the bank's stabilizing asset quality with the rundown of its problematic retail loan portfolio, reasonable funding profile (largely retail) and adequate capitalization, the agency said.

Ratings remain constrained by the bank's small franchise, large tenor mismatches between its asset and liabilities, and weak profitability, the agency noted.

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