Bank of China ’s Ratings Affirmed with a Stable Outlook

Ref: CN020 19 CRA00- 0 1 4 September 2020

Bank of China ’s Ratings 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 China (BOC) at ‘A’ and ‘A1’, respectively. At the same ti me, CI Ratings has affirmed BOC’s Bank Standalone Rating (BSR) and Core Fin ancial Streng t h (CFS) rating at ‘bbb-’. The Outlook for the LT FCR and BSR remains Stable.

Given BOC’s majority state-ownership and G-SIB status, CI considers the likelihood of the authorities providing sufficient and timely extraordinary support to the Bank in the event of need to be very high. Consequently, the Bank’s LT FCR has been aligned with CI’s internal assessment of sovereign credit risk for China.

The Bank’s BSR is derived from a…