20 December 2016 Moody's Investors Service upgraded the long-term local and foreign-currency deposit ratings of ASIA ALLIANCE BANK to B3 from B2. Outlook on all long term ratings is stable.

The upgrade of ASIA ALLIANCE BANK’S ratings with a stable outlook is driven by the track record of strong financial performance, growing business diversification and strengthening business franchise and Moody’s expectation of gradual diversification of Bank’s funding base.