Moody’s affirms Public Bank

Moody's Investors Service said it affirmed all the ratings and assessments of Public Bank Bhd.

The outlook is stable.

The affirmation of Public Bank's A3 deposit rating is underpinned by the affirmation of the bank's a3 baseline credit assessment, the agency said.

The A3 rating does not benefit from government support uplift as the bank's a3 baseline credit assessment is already positioned at the same level as the Malaysian government's bond rating (A3 stable), Moody’s said.

The agency said the bank's baseline credit assessment reflects its solid domestic retail franchise, track record of above-industry average asset quality and risk-adjusted profitability, and well-managed capital, funding and liquidity.

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