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Sri Lanka's Prime Minister Ranil Wickremesinghe arrives with flowers to receive blessings at the Gangaramaya Buddhist Temple, Colombo, Sri Lanka on Wednesday 4 April 2018. On wednesday (4), Wickremesinghe survived a no-confidence motion in the Sri Lankan parliament with a 46 vote majority after a 12-hour debate with 122 MPs voted in his support while 76 MPs voting to remove the prime minister. (Photo by Tharaka Basnayaka/NurPhoto via Getty Images)

Mar 27, 2014 (LBO) – Fitch Ratings has confirmed an ‘AAA(lka)’ rating of HSBC’s Sri Lanka branch with a stable outlook. HSBC has seen loans growing 6.1 percent in the nine months to September 2013. Large corporate customers made up 64 percent of its rupee loans. Of the retail loan book, 43 percent was from credit cards.

HSBC had capital of 23.8 percent of risk weighted assets.

The full statement is reproduced below:-

Fitch Affirms HSBC Sri Lanka Branch at ‘AAA(lka)’; Outlook Stable

Fitch Ratings-Colombo-27 March 2014: Fitch Ratings Lanka has affirmed HSBC Sri Lanka Branch’s (HSBCSL) National Long-Term Rating at ‘AAA(lka)’.The Outlook is Stable.

KEY RATING DRIVERS – NATIONAL RATINGS

HSBCSL’s rating is at the highest end of the National Rating scale and reflects the credit profile and financial strength of The Hongkong & Shanghai Banking Corporation Limited (HKSB; Long-Term Issuer Default Rating (IDR): ‘AA’-/Stable).

The rating is tied to HKSB’s IDR because of HSBCSL’s legal status as a branch of HKSB and hence is an extension of the same legal entity as HKSB. HKSB’s rating