Industrial Bank of Korea — Ratings Affirmed with a Stable Outlook

14 November 2025

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 Industrial Bank of Korea (IBK or the Bank) at ‘A+’ and ‘A1’, respectively. At the same time, CI Ratings has affirmed IBK’s Bank Standalone Rating (BSR) of ‘a+’, Core Financial Strength (CFS) rating of ‘a+’ and Extraordinary Support Level (ESL) of Very High. The Outlook for the LT FCR and BSR remains Stable.

As the Bank’s ratings (LT FCR, BSR and CFS) are in line with CI’s internal assessment of sovereign credit risk for South Korea, the ESL of Very High – which reflects the Bank’s majority government ownership and policy role, as well as the solvency protection from the government as mandated under the IBK Act – does not result in any uplift to the Bank’s LT FCR.

IBK’s BSR is derived from a CFS rating of ‘a+’ and an Operating Environment…