MOODY’S Investors Service has retained China Banking Corp.’s (China Bank) investment grade long-term foreign currency counterparty risk and long-term foreign currency deposit ratings, assigning Baa2 rating with stable outlook.
The credit rating is the same level as the Philippine sovereign rating.
“We are very pleased to have maintained the investment grade rating from Moody’s, which confirms the Bank’s solid fundamentals and resilience. We are proud that despite the challenging economic environment in 2020, we are able to continue to serve and support our customers and face the difficulties from a position of strength,” said China Bank president William Whang.
In its Nov. 27, 2020 report, Moody’s noted that China Bank’s ratings are underpinned by stable capitalization and profitability, as well as strong support from key shareholders. / PR