DFCC Bank on Thursday secured a SL AA national rating from Fitch Ratings for its implied long-term unsecured senior debt.
SL AA long-term rating denotes a very low expectation of credit risk. The rating indicates a very strong capacity for timely payment of financial commitments. This capacity is not significantly vulnerable to foreseeable events, Fitch said in a statement.rn
rnFitch says DFCCs rating reflects its long sound operating history, strong capital base and a conservative competent management team. rn
rnThe bank has maintained a consistent profitability track record helping it to build up equity. ROA over the last four years averaged a healthy 2.7 percent, and ranks high amongst the larger financial institutions. At present DFCC enjoys the highest capital/assets ratio amongst the larger banks in Sri Lanka, notes Fitch.rn
rnThe last few years has seen management adopting an internal focus. rnOperating procedures have been refined, particularly in the area of risk management, which at pr