Strong market position in key segments; Adequate risk-based capitalization; and Good risk-management track record. Sensitive to franchise and investor-confidence risks; High exposure to market risk relative to commercial banks; and Exposed to reputational and operational risks, and risks associated with its rapid growth strategy. The stable outlook reflects our expectation that the bank will continue to demonstrate good risk-management capabilities, there will be no material increase in its risk appetite, risk-adjusted capital and earnings will remain adequate, and that funding and liquidity risks will be satisfactorily managed. A significant strengthening of the bank's capital, leading to a RAC ratio before diversification of more than 10%, could have positive rating implications. On the other hand, we could lower the ratings if
