📈 Fitch Upgrades Bank of Ceylon to 'AA+(lka)'; Outlook Stable

• Rating Action: Fitch Ratings has upgraded Bank of Ceylon's (BOC) National Long-Term Rating by two notches to 'AA+(lka)' from 'AA-(lka)' with a Stable outlook. • Key Drivers: The upgrade follows Fitch's revision of Sri Lanka’s sovereign rating to 'B-/stable' (from 'CCC+') and operating environment assessment to 'B-' (from 'CCC+'). It recognizes BOC’s leading domestic market position, extensive branch network, broad customer base, and strong deposit franchise. • Macro Context: Easing macroeconomic pressures and reduced credit risks enhance financial resilience across the banking sector, enabling BOC to support national economic growth, local businesses, and key sectors including SME, corporate, and retail banking.