Fitch affirms Yuanta Commercial Bank

Fitch Ratings said it affirmed the ratings of Yuanta Commercial Bank Co., Ltd.'s national long-term rating at A+(twn) and national short-term rating at F1(twn).

The outlook remains stable.

The ratings are based on group support and take into account the bank's notably improved balance sheet, but still weak operating profitability, Fitch said.

The bank aims to develop a niche position in wealth management by leveraging on the group's leading position in Taiwan's securities market and well-established retail brokerage franchise, the agency said.

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