Fitch revises Asian-Pacific Bank view to stable

Fitch Ratings said it revised PJSC Asian-Pacific Bank's outlook to stable from negative and affirmed the bank's long-term issuer default rating at B.

“The outlook revision reflects the moderation of asset-quality risks and stabilization of profitability metrics following the completion of APB's balance-sheet clean-up. While the bank's asset quality and profitability remain vulnerable to the consequences of the pandemic, it will likely tolerate further credit losses even in a longer and more severe downturn than currently anticipated,” Fitch said in a press release.

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