Bank of China ’s Ratings Affirmed with a Stable Outlook

Ref: CN020 2 2 CRA00- 0 1 1 September 202 3

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) of ‘bbb-’ and Core Fin ancial Streng t h (CFS) rating of ‘bbb-’. The Outlook for the LT FCR and BSR remains Stable.

Benefiting from the Very High ESL, BOC’s LT FCR is set four notches above the BSR, a level aligned with CI’s internal assessment of s overeign credit risk for China. The ESL reflects the Bank’s majority state-ownership and its status as a globally systemically important bank ( G-SIB ). Furthermore , t he Chinese government has…