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Fitch affirms Bank of China (Hong Kong)
Fitch Ratings said it affirmed Bank of China (Hong Kong) Ltd.'s long-term issuer default rating at A, short-term issuer default rating at F1 and viability rating at A, along with its subordinated debt issue rating at A-.
The outlook remains stable.
The ratings reflect its strong franchise, strong capital, low risk appetite, sound asset quality and high liquidity, Fitch said.
Pre-impairment profitability and loan yields remain strong despite having steadily declined since 2007 in a low interest-rate environment, the agency said.
The main risk factors for the bank stem from continuously high competition in the Hong Kong market and growing exposure to China, which is experiencing increased economic development and strengthening trade relations with Hong Kong, Fitch said.
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