...Support Underpins Ratings: The National Ratings of PT Bank Maybank Indonesia are support- driven and reflect Fitch Ratings's expectation that its Malaysia-based parent, Malayan Banking Berhad (Maybank), has a high ability and propensity to extend extraordinary support, if required. Maybank owns a 78.9% of Maybank Indonesia at end-9M23. Linked to Maybank's SCP: Maybank Indonesia's National Ratings are driven by our assessment of the parent's standalone credit profile (SCP), as we view that there is sufficient uncertainty as to whether extraordinary support, if required, would be made available and flow from the Malaysian sovereign (BBB+/Stable) through Maybank to Maybank Indonesia. In Fitch's view, potential support would most likely come from Maybank's own financial resources. Considerable Ability to Support: Maybank, Malaysia's largest bank, has a strong ability to extend support to its Indonesian subsidiary, should it be needed. This is reflected in its intrinsic credit strength and Maybank...
