'A (lka)' for Nations Trust Bank

Fitch Ratings has assigned a National Long-term rating of 'A(lka)' to Nations Trust Bank PLC's (NTB) proposed senior debenture issue of up to Rs. 500m. At the same time, the agency affirmed NTB's outstanding ratings, as follows: - National Long-term rating at 'A(lka)' - Outstanding redeemable subordinated debenture issue of Rs. 1bn: 'A-(lka)' (A minus (lka) The Outlook is Stable.

The ratings reflect NTB's sustained profitability, good capital position, strong risk management processes and controls, as well as its relatively large concentration towards consumer financing products and leasing which are more susceptible to economic downturn.

A small-mid sized licensed commercial bank, NTB had a total asset base of Rs. 67.7bn at FYE08, with a network of 50 branches (including leasing and personal banking centres).