Very strong capitalization Good loss experience, which highlights the mutual bank's focus on low-risk residential mortgages and the risk profile of its predominantly government-employed customer base Limited business franchise, which leaves it susceptible to heightened competition from other retail-focused financial institutions Funding profile that is susceptible to competitive funding pressure, and its weaker capacity to source funding in a stressed operating environment The stable outlook reflects Standard&Poor's Ratings Services' view that SGE Mutual Ltd. (trading as G&C Mutual Bank) will retain its focus on providing well-secured residential mortgage loans to its customer base and continue to improve its operating performance following its successful transition to a mutual bank in late 2014 and its planned merger with Quay Credit
