Savings giant NSB got a top SL AAA credit rating from Fitch Ratings Lanka.
The rating denotes the highest credit quality and maximum safety.
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rnThe national savings bank becomes only the second bank in the country after Citibank, to get the top credit ranking.rn
rnNearly 80 percent of the deposits at the national savings bank have been reinvested in government securities.rn
rnIn effect, that proportion of the deposits carries the same credit rating as would the government and that is a triple A. rn
rnFitch Ratings Lanka in its rating report says that NSBs asset quality has remained high due to its large exposure to low risk government securities.rn
rnThe savings bank has also shown strong growth over the last few years.rn
rnDeposits jumped by a massive Rs. 50 bn over the last five years.rn
rnFitch however, has also raised some concerns about NSBs lack of a proper vision to the lack of skills and systems.rn
rnFitch says the bank will have to widen the scope of its activities to continu