23 May 2014, Fitch Ratings has affirmed the Long-term Issuer Default Rating of LOCKO-Bank at 'B+' with Stable Outlook.
The affirmation of LOCKO's IDRs and VR reflects reasonable capitalisaiton level. The FCC ratio was 17.2% at end-2013. Total regulatory capital ratio was 12.5% at end-1Q14. Fitch estimates the bank has the capacity to increase regulatory loan impairment reserves to 10.5% from 6.4% currently, overall a reasonable loss absorption buffer. LOCKO-Bank demonstrates adequate profitability for a universal commercial bank and good asset quality.
LOCKO-Bank’s ratings by Fitch are as follows: