Fitch affirms Pan Asia Banking

Fitch Ratings said it affirmed the national long-term rating of Pan Asia Banking Corp. plc at BBB-(lka).

The outlook remains stable.

The rating factors in the bank's improving capitalization and profitability, Fitch said.

It remains constrained by the minimum capital requirement set by Central Bank of Sri Lanka by fiscal year 2009, its high net NPL/equity ratios and concentrations in its credit portfolio, the agency added.

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