LHFG and LH Bank Assigned a National Long-Term Rating of 'AA+(tha)' with Stable outlook by Fitch

        LH Financial Group Public Company Limited (LHFG) and Land and Houses Bank Public Company Limited (LH Bank), have been assigned a national long-term rating of 'AA+(tha)' with Stable outlook, national short-term rating of 'F1+(tha)' and LH Bank's Basel III Tier 2 debentures are rated 'AA-(tha)’ by Fitch Ratings (Thailand). This rating is driven by Fitch's expectation of extraordinary support from the bank's Taiwan-based parent CTBC Bank Co., Ltd., Taiwan's No.1 private bank of Land and Houses Financial Business Group, which has significant strategic linkages to the group. Moreover, Thailand is an important investment destination for Taiwanese corporates. Thus, LHFG and LH Bank give CTBC a key footprint in the region to serve its clients and provide cross-border services.

        In addition, Fitch views that LHFG has re-oriented its growth strategy. LH Bank's business profile will further diversify as it expands into SME and retail client segments. Increasing integration with CTBC will also support the growth of loans to Taiwanese corporates and the expansion of cross-border fee-generating business such as trade finance.