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The ratings are based on the Bank’s strong market position in the island as the largest privately-owned licensed commercial bank and third-largest overall," the rating agency said in a statement.
The ratings also reflect the banks strong franchise and healthy financial performance, funding and liquidity, as well as good capitalisation levels.
Ram said overall Commercial bank’s asset quality is viewed as above average owing to a better loan portfolio risk profile than that of its peers, a conservative lending strategy and prudent provisioning policy.
The Group focuses mainly on financing corporates and top-tier small- and medium-sized enterprises achieving loan growth of 18.01 percent year-on-year in fiscal 2012.
Full statement is attached below
RAM Ratings Lanka reaffirms Commercial Bank of Ceylon PLC’s ratings at AA+/P1 RAM Ratings Lanka has reaffirmed Comm