Citibank became the only foreign bank to get a credit rating on the local scale when they made public their AAA rating.
The bank says the rating obtained for franchise reasons will also be useful if the government makes it mandatory for commercial banks to make public their credit ratings.rn
rnldblquote It is still not clear whether international banks will be allowed to use the international rating or not,
dblquote says Citibank CEO Kapila Jayawardena. rn
rnldblquote But my thinking is that the foreign banks will be allowed to use the international rating. By going for a local rating we wanted to give the signal to the banking industry that the bank is rated not on its international strengths but the local franchise as well.rn
rnldblquote It is both regulatory and franchise development as well.