Fitch rates Bank Riau Kepri, bond A(idn)

Fitch Ratings said it assigned PT Bank Pembangunan Daerah Riau Kepri (Bank Riau Kepri) a national long-term rating of A(idn), along with an expected rating of A(idn) to its proposed rupiah bond of up to Rp 750 billion.

The outlook is stable.

The ratings reflect the bank's satisfactory capital position, sizeable low-cost deposit base and important role in supporting the development of the Riau region, Fitch said.

Some support from its shareholder, the Riau government, also may be available in times of need, the agency said.

The ratings also recognize its small size relative to peers, volatile deposits, average profitability, moderate asset quality and concentrated niche business in Riau, Fitch added.

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