Fitch reaffirms NDB long-term rating of A+ (lka) with Stable Outlook

19 January 2017 10:00 am - 0     - {{hitsCtrl.values.hits}}



Fitch Ratings Lanka Limited (Fitch) has affirmed National Development Bank PLC (NDB) a Long Term Issuer Default Rating (IDR) of A+ (lka) with an Outlook Stable pursuant to Fitch’s revised its ratings followed by its periodic review.  
According to Fitch’s report on its rating action for NDB, “NDB’s ratings reflect its satisfactory asset quality, weaker franchise and lower capitalization relative to higher rated peers. Fitch believes the bank’s higher risk appetite could dilute the benefit of nay possible capital infusions.”
The assigned subordinated debt ratings of NDB is rated one notch below the national long term ratings to reflect the subordination to senior unsecured creditors. 
NDB remains governed by a robust corporate governance and risk management framework and a strong strategic framework which ensure sustainable profitable growth. The Bank’s meticulous internal capital adequacy assessment process (ICAAP) ensures that the Bank attains sustainable growth levels that are commensurate to its capital. The Bank is also buffered against the high capital adequacy levels of the NDB Group, the Tier I of which is at over 10 percent, well above the statutory minimum requirement of 5 percent.
NDB is internally mindful of the need for the infusion of fresh capital, and will communicate its plans towards this end, once it is in a position to do so. NDB remains committed to its ambitious profitable growth plans, in yielding sustainable returns to its shareholders, customers and all other stakeholders.

  Comments - 0

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment

Public transport 'side-laned'?

“Miss, mantheeru neethiya nisa api bus passen yanna one. Ithin drop eka par

Land acquisitions in Hanthana and Knuckles Mountain ranges

Sri Lankans will soon lose their opportunity to boast about the rich biodiver

Wanathawilluwa forest clearance: Whodunit?

Days after the Anawilundawa Ramsar Wetland, situated in Puttalam District, ma

‘I’m scared to see her face’

On August 13, a woman happened to meet a child who was in desperate need of h