Taiwan Cooperative Bank – Ratings Affirmed w ith a Stable Outlook

Ref: TW0 16 2 3 CRA00- 0 1 21 March 202 4

Taiwan Cooperative Bank – Ratings Affirmed w ith a Stable Outlook

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the L ong-Term Foreign Currency Rating (LT FCR) and Sho rt-Term Foreign Currency Rating (ST FCR ) of Taiwan Cooperative Bank (TCB) at ‘A-’ and ‘A2’ , respectively. At the same time, CI Ratings has affirmed TCB’s B ank S tandalone R ating (BSR) of ‘bbb’, C ore F inancial S trength (CFS) rating of ‘bbb-’ , and E xtrao rdinary S upport L evel (ESL) of High. The Outlook for the LT FCR and BSR is Stable.

The Bank’s LT FCR is set two notches above the BSR to reflect the high likelihood of extraordinary support from the government. The ESL of High is underpinned by the Bank’s size and systemic importance, along with the government’s large and stable ownership in the…