Asia
Fitch Affirms Shanghai Commercial & Savings Bank's A- Rating
Fitch Ratings affirmed Shanghai Commercial & Savings Bank's (TPE:5876) long-term issuer default rating at A-, with the outlook remaining negative, according to a Sunday news release.The negative outlook reflects persistent pressure on the lender's asset quality from 57.6%-owned Hong Kong subsidiary Shanghai Commercial Bank, which stem from commercial real estate exposures in Hong Kong and the U.S.Despite asset quality stress at Shanghai Commercial Bank, Fitch expects Shanghai Commercial & Savings Bank to maintain modest credit growth over 2026 and 2027 and retain its conservative risk profile.Shares of Shanghai Commercial & Savings Bank rose 1% in recent trade.
TPE:5876
