Fitch affirms People's Bank

Fitch Ratings said it affirmed People's Bank national long-term rating at A-(lka).

The outlook is positive.

The rating reflects support expected and available from the government of Sri Lanka, systemic significance as the second largest bank in Sri Lanka and strategic importance to the state, Fitch said.

The rating also reflects the weak capital position of the bank, which is inadequate to meet regulatory capital adequacy ratios, the agency added.

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