HALISTER1: Rizal Bank’s Regulatory Fine Large But Manageable, Fitch Says

Rizal Bank’s Regulatory Fine Large But Manageable, Fitch Says

(Bloomberg) -- Penalty of $21.3m related to money-laundering case this yr “unlikely on its own to materially weaken bank’s medium-term financial profile,” Fitch Ratings says in e-mailed statement.
  • Fine imposed by Philippine central bank may be significant relative to Rizal Bank’s net income; lender expected to remain profitable in 2016
  • Charge doesn’t significantly weaken medium-term profitability, existing capital, funding, liquidity
  • Rizal Bank seen to continue to strengthen operational policies, controls
  • Philippines Slaps $21.3 Million Fine on Rizal Bank for Heist Link
  • NOTE: Rizal Bank shares unchanged Tuesday after 1.2% decline Monday
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
RCB PM (Rizal Commercial Banking Corp)

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