Very strong capitalization Good loss experience, which highlights its 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 our view that 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. This is further supported by the mutual bank's very strong capitalization and good loss experience on both an absolute basis and
