ECRL has affirmed AA (Pronounced as “Double A”) long term credit rating and ST-2 short term credit rating to ONE Bank PLC. based on audited financials of FY2024 and other available information up to the date of rating declaration. The outlook on the rating is Developing considering the rise in NPL and deferral of required provision, which might impact the future rating of the entity if there is no improvement in the performance of the bank.