Industrial Bank of Korea’s Ratings Affirmed with a Stable Outlook

Ref: KR01721 CRA00- 01 15 November 202 2

Industrial Bank of Korea’s Ratings Affirmed with a Stable Outlook

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 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…