Moody's rates NCC Bank B1

Moody's Investors Service said it assigned B1/NP long-term and short-term local- and foreign-currency deposit and issuer ratings to NCC Bank Ltd.

Moody's also said it assigned a baseline credit assessment of B2 and adjusted baseline credit assessment of B2 to the bank.

The bank's local- and foreign-currency counterparty risk ratings are assigned at B1/NP, while the counterparty risk assessments are assigned at B1(cr)/NP(cr).

The outlook is stable.

The ratings are based on the bank's baseline credit assessment with one notch of uplift due to moderate probability of public support from the government of Bangladesh, Moody's said.

The ratings also reflect NCC's modest solvency and funding, the agency said, and adequate liquidity.

Similar to other private-sector banks in Bangladesh, NCC's loan book is focused on corporate clients, Moody's noted. Its profitability is showing signs of improvement due to higher asset yield, the agency said.

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