Fitch Ratings affirmed Bank of China (Hong Kong) (HKG:2388) subsidiary BOCHK's long-term issuer default rating at 'A+' with a stable outlook, citing its strong capital and liquidity buffers, resilient profitability and solid market position.
Fitch expects asset quality to remain stable as Hong Kong's real-estate sector shows signs of stabilization, supported by the bank's prudent lending standards and risk controls. Its role as Hong Kong's sole yuan clearing bank also supports its business profile, the rating agency said in a Friday release.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments