Government savings giant NSB is in the final stages of getting a credit rating from Fitch Ratings Lanka.
National Savings bank with public deposits of over Rs. 130 bn is expected to publicly announce the senior debt rating once it is assigned.rn
rnThe Banks General Manager Eastman Narangoda told LBR that the rating audit has already been completed and that Fitch will soon assign a rating to the company.rn
rnThe bank is expecting the rating to be assigned within the next two weeks.rn
rnThe government owned savings bank has invested around 80 percent of its deposit funds in government debt. The rest of the funds have been invested or been lent to the private sector and for housing loans.rn
rnFinancial sector analysts expect the bank to get a top ldblquote A
dblquote grade rating due to a large portion of the deposits being invested in government securities.rn
rnNSB established under an act of parliament is required to have a minimum 60 percent of its deposits in government debt.rn