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Fitch assigns ratings to Bank Shinhan Indonesia

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Fitch assigns ratings to Bank Shinhan Indonesia

Fitch Ratings assigned PT Bank Shinhan Indonesia a national long-term rating of AAA(idn), with a stable outlook.

The rating agency said Dec. 20 that the bank's rating reflects the expectation of a high likelihood that it would receive timely extraordinary support from its parent, South Korea-based Shinhan Bank Co. Ltd., when needed.

The Indonesian bank's stand-alone profile is weak and does not drive its rating, reflecting the agency's assessment of its small franchise, above-average risk appetite, average asset quality, modest profitability, capitalization, as well as funding and liquidity profiles that benefit from ordinary support from the parent.