Fitch affirms People's Merchant Bank

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

The outlook is stable.

The rating factors in its modest profitability, small asset and equity base and asset quality, which was on par with the sector, Fitch said.

The rating also takes comfort from the company's main shareholder, People's Bank, which is rated A-(lka) with positive view, the agency said.

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