Industrial Bank of Korea’s Ratings Affirmed; Outlook Remains Stable

Ref: KR01720 CRA00- 01 15 November 202 1

Industrial Bank of Korea’s Ratings Affirmed; Outlook Remains Stable

Capital Intelligence (CI Ratings) t oday announced that it has affirmed the L ong- Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating ( ST FCR ) of Industrial Bank of Korea (IBK) at ‘A+’ and ‘A1’ , respectively. At the same time, CI Ratings has affirmed both IBK’ s Bank Standalone Rating (BSR) and Core Financi al Strength (CFS) rating of ‘a+’. The Outlook for the ratings remains Stable.

The Bank’s LT FCR, BSR and CFS are in line with CI’s internal assessment of sovereign credit risk for South Korea. Consequently , the E xtraordinary Support Level (E SL ) of Very High – which reflects the Bank’s majority government ownership and policy role, as well as the solvency protection of the government as mandated under the IBK Act – does not result in any…