Fitch affirms Taiwan’s Rakuten Bank’s ratings at A+(twn)

Fitch Ratings affirmed on Thuesday the National Long-Term Rating of Taiwan-based Rakuten International Commercial Bank Co., LTD. (RICB) at ‘A+(twn)’.

The outlook for this rating remains stable. Additionally, Fitch has affirmed the National Short-Term Rating at ‘F1+(twn)’. The ratings are driven by the expectation of continued shareholder support from Rakuten Bank Ltd., RICB’s Japanese parent.

This support is underpinned by Fitch’s assessment of Rakuten Bank’s strong credit profile and the high likelihood of the parent providing support to RICB given its strategic importance within the group.

Attribution: Fitch Ratings report

Subediting: M. S. Salama