...Outlook: Stable The stable outlook reflects our expectation that Taipei Fubon Commercial Bank Co. Ltd. (Taipei Fubon Bank) will maintain its business and financial profiles at a level commensurate with the current ratings under the Fubon Financial Holding Co. Ltd. (Fubon FHC) group's prudent financial management and the bank's adequate risk management. As a core member of the Fubon FHC group, the ratings on Taipei Fubon Bank will move in tandem with the overall group credit profile in most circumstances. If the group's credit profile only deteriorated by one notch, we expect Taipei Fubon Bank's credit rating to remain unchanged, benefiting from the implicit government support given its "moderate systemic importance". We expect Fubon FHC group to maintain its capital and earnings at the lower adequate level. The group's above peer-average operating performance should help offset the group's continued high organic growth in the coming 12 to 24 months, in our view. In addition, we don't expect...
