Fitch affirms First Financial

Fitch Ratings said it affirmed the ratings of First Financial Holding Co. Ltd. and First Commercial Bank (Taiwan). The outlook is stable.

At the same time, Fitch said it withdrew the support rating and support rating floor of on First Financial Holding because the ratings are no longer considered relevant to the agency's rating coverage.

Fitch said the affirmation reflects its expectation of First Financial Holding's ability to maintain a steady credit profile.

According to Fitch, the profitability of the company's principal operating subsidiary Fisrst Commercial Bank improved, with return on average assets increased from 0.33% in 2010 to 0.43% in 2011. However this was not able to lift profits at the parent, owing to losses at its other smaller subsidiaries including First Securities and First Aviva Life.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.