"CB's ratings reflect its solid domestic franchise, sound profitability and its strong capital position," a statement said.
Fitch noted that the bank has arrested the decline in its asset quality resulting in a marked improvement in its gross non-performing loans (NPL) and net NPL/ equity ratios.
"However, a reversal of asset quality trends or a deterioration in capitalisation could exert pressure on CB's ratings," it warned.
The full statement follows:
Fitch Ratings Lanka has affirmed Commercial Bank of Ceylon PLC's (CB) National Long-Term rating at 'AA(lka)' with a Stable Outlook. The agency has also affirmed CB's subordinated debentures at 'AA-(lka)'.
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CB's ratings reflect its solid domestic franchise, sound profitability and its strong capital position. Fitch notes that the bank has arrested the decline in its asset quality resulting in a marked improvement in its gross non-performing loans (NPL) and net NPL/ equity ratios. However, a reversal of asset quality trends