Poland's Bank Zachodni's rating outlook upped to positive on growth - Moody's

MUMBAI (Thomson Financial) - Moody's Investors Service has changed the outlook on the 'C-' bank financial strength rating for Poland's Bank Zachodni WBK SA to positive from stable.

Moody's said the change in outlook reflects the bank's strong organic growth in all business segments, but especially in corporate banking and mutual funds, where the bank is the second largest player Poland.

The ongoing improvement in the bank's financial fundamentals, especially in profitability and cost efficiency indicators and the conservative risk profile of the bank are also major factors influencing the change of outlook, the ratings agency said.

However, the bank's global local currency 'A1/P-1' and foreign currency 'A2/P-1' deposit ratings remain unchanged, underpinned by the ownership of Allied Irish Banks and the agency's assessment of high probability of systemic support to the bank, Moody's added.

Source:forbes.com