Land and Houses Has Been Upgraded to AAA by TRIS Rating
Mr. Shih, Jiing-Fuh, President of LH Financial Group Public Company Limited or LHFG and CEO and President of Land and Houses Bank Public Company Limited or LH Bank revealed that Land and Houses Financial Business Group consisting of LH Financial Group PLC (LHFG) and Land and Houses Bank PLC (LH Bank) has been upgraded by TRIS Rating as follows:
TRIS Rating upgrades the company rating on LH Financial Group PLC (LHFG)to “AA+/Stable” from “A-/Stable”.
TRIS Rating upgrades the company rating on Land and Houses Bank PLC (LH Bank) to “AAA/Stable” from “A/Stable”. At the same time, we upgrade the rating on LH Bank’s outstanding Basel III Tier 2 capital securities to “AA” from “BBB+”.
“TRIS Rating upgrades the company rating on LH Financial Group PLC (LHFG) and Land and Houses Bank PLC (LH Bank) which reflects the positive view on the potential to implement the strategic plan to grow retail and SMEs customers from both digital channels and business partners with the new forms of work processes that focus on holistic participation from all units with the aim towards sustainable growth. In addition, Land and Houses Financial Business Group is ‘highly strategic’ entity of CTBC Bank Co., Ltd. (rated “A/Stable” by S&P Global Ratings), No. 1 private bank in Taiwan and parent company of Land and Houses Financial Business Group. TRIS Rating views that Land and Houses Financial Business Group plays a key role in achieving CTBC Bank’s strategic goals of business expansion globally. In addition, TRIS Rating views that LH Bank has completely integrated the risk management framework covering its various risks with CTBC Bank”, added Mr. Shih.
