Fitch affirms National Savings Bank

Fitch Ratings said it affirmed National Savings Bank's national long-term rating at AAA(lka).

The outlook is stable.

The rating reflects its state ownership and systemic importance to the state in mobilizing retail savings and investment of such savings in government securities, Fitch said.

The rating is driven by expectations of support underpinned by its systemic importance and 100% state ownership, the agency said.

A severe decline in the bank's government securities operations relative to other licensed commercial banks would indicate a lower significance to the government and would add downward pressure on its rating, Fitch said.

© 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.