Bank of C ommunications – Rating s Affirmed with a Stable Outlook

Ref: CN002 2 2 CRA00-01 7 September 202 3

Bank of C ommunications – Rating s Affirmed with a Stable Outlook

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating ( LT FCR ) and Short-Term Foreign Currency Rating ( ST FCR ) of Bank of Communications (BoCom) at ‘A-’ and ‘A1’ , respectively. At the same time, CI Ratings has affirmed BoCom’s Bank Standalone Rating (B SR ) of ‘bbb-’ , Core Financial Strength ( CFS ) rating of ‘bbb-’ , and Extraordinary Support Level ( ESL ) of Very High . The Out look on the ratings remains Stable .

BoCom’s LT FCR is set three notches above the BSR based on an ESL of Very High. The ESL takes into account the Bank’s D-SIB status, the high level of state-ownership and well established franchise, including a large network and sound market share, as well as our…