National Rating 'AAA' indicates the highest rating given by Fitch on the National Rating scale for that country. This rating is given to issuers or bonds with the lowest expected default risk compared to all other bond wissuers or the bonds in Indonesia or other same monetary union.
This increase is as a result of the improvement in the credit profile of its parent company, KB Kookmin Card Co., Ltd. (KBC) as well as the support from KBC and the main parent of KB Financial Group Inc. (KBFG) to the Company. The Company's independent profile reflects Fitch's view of the Company's rapid business growth, profitability, and above-average access to funding as a support form the Company's parent company.
The Company's Financing Receivables increased 38% yoy at the end of June 2022 (industry: 6%). Annual profit before tax/average assets increased to 3.0% in 1H22 from 2.6% in 2021.
With the increase in the National Long-Term Rating and the Company's Bonds to AAA(idn), the Company hopes to continue to grow, earning lower loans and able to channel financing to consumers at increasingly competitive interest rates.Back To List