...Standalone Strength Drives IDRs: The Issuer Default Ratings (IDRs) of Bangkok Bank Public Company Limited (BBL) are based on its standalone financial strength as reflected by its Viability Rating (VR). The VR reflects BBL's strong local franchise (especially in corporate banking), stronger-than-peer capitalisation, a moderate risk appetite, and substantial buffers that protect it against a weak economic outlook. Strong Franchise Ensures Profitability: BBL is the largest commercial bank in Thailand by consolidated assets, with a market share of around 16% as of end-December 2015. Its strong deposit franchise leads to relatively stable profitability through the economic cycle. BBL's competitive funding cost also supports its ability to focus on mid-sized and large corporate clients with strong financial profiles. Capital Buffer Tops Most: BBL's core tier-1 capital ratio of 15.8% as of end-December 2015 was among the highest in the Thai banking sector (sector average: 13.9%). Fitch Ratings...
