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Fitch affirms National Development Bank
Fitch Ratings said it affirmed National Development Bank plc's national long-term rating at AA(lka), along with its subordinated debentures at AA-(lka).
The outlook is stable.
The ratings reflect the bank's strong financial profile relative to its peers, Fitch said.
The ratings are constrained by the bank's less diversified loan portfolio and modest deposit base compared to peers, an inherent function of its relatively shorter operating history as a licensed commercial bank, the agency said.
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