Fitch Publishes Amana Bank PLC's Rating of 'BB(lka)'; Outlook Stable

April 2, 2015 8:27 AM

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(The following statement was released by the rating agency) COLOMBO, April 02 (Fitch) Fitch Ratings Lanka has published Sri Lanka-based Amana Bank PLC's (Amana) National Long-Term Rating at 'BB(lka)' with a Stable Outlook.

KEY RATING DRIVERS Amana's rating reflects its small and developing domestic franchise, and limited track record. The bank started operations in 2011 as a Sharia-compliant bank and accounted for 0.5% of total banking sector assets at end-2014. The rating also captures Amana's relatively high risk ap...

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