Moody’s affirms HNB’s international credit rating on par with the sovereign
Wednesday, 17 September 2014 01:14
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Hatton National Bank PLC, the first local private sector commercial bank to obtain an international credit rating, was once again affirmed with a foreign currency issuer rating of B1 with a stable outlook on par with the sovereign rating of Sri Lanka assigned by Moody’s Investors Service Inc.
According to the rating report by Moody’s, the rating was driven by the robust capital position and healthy profitability levels and Moody’s expects the bank’s good capitalisation levels and internal capital generation capacity to continue to support its business growth in 2014-15.
Hatton National Bank is a premier private sector commercial bank with a network of 250 customer centres spread across the length and breadth of Sri Lanka and caters to all segments of the market through its diverse product and service offering. The bank is also involved in insurance and capital market operations in the country through its Group companies.
Hatton National Bank has been awarded by the Asian Banker Magazine as the ‘Best Retail Bank in Sri Lanka’ for six consecutive years for its performance from 2007 to 2012 and named as the ‘Bank of the Year in Sri Lanka’ for the year 2012 and 2013 by the Banker Magazine of UK.
