Fitch affirms EON Bank

Fitch Ratings said it affirmed EON Bank's long-term foreign currency issuer default rating at BBB-, short-term issuer default rating at F3, individual rating at C/D, support rating at 3, support rating Floor at BB and subordinated debt rating at BB+.

The outlook is stable.

According to the agency, EON Bank's ratings reflect its below-average profitability and less diversified business profile compared with higher-rated and better-performing Malaysian banks, but also take into account its satisfactory balance sheet strength.

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