RAM Ratings reaffirms Hong Leong Islamic Bank's AA1/P1 ratings
RAM Ratings has reaffirmed the AA1/Stable/P1 financial institution ratings of Hong Leong Islamic Bank Berhad. Hong Leong Islamic is wholly owned by Hong Leong Bank Berhad, and shares the group’s common infrastructure, risk-management systems, backroom operations and distribution channels. This allows the bank to reap the benefits of economies of scale and reduce resource duplication. Hong Leong Islamic is considered highly strategic to Hong Leong Bank and RAM Ratings expects a high likelihood of parental support should the need arise.