Fitch affirms Oversea-Chinese Banking

Fitch Ratings said it has affirmed Singapore-based Oversea-Chinese Banking Corp.'s ratings at long-term foreign currency issuer default rating AA-, short-term rating F1+, individual B and support 2 following a review of the bank.

The outlook is stable.

Fitch said the bank's credit profile is strong and continues to improve, thanks to active management of its asset quality amid a generally benign credit environment in Singapore and Malaysia - the bank's main markets.

The outlook for the bank's operating performance, however, continues to be challenging with subdued loan growth and intense competition in its mature home market, the agency said.

On the positive side, disciplined regional expansion could bring some diversification benefits, the agency noted.

© 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.