Very strong franchise in Hong Kong Benefits of HSBC group membership Strong earnings and asset quality Mature and saturated domestic market Concentrated exposure to property sector The ratings on The Hongkong and Shanghai Banking Corp. Ltd. (HSBC Asia Pacific) reflect the bank's standalone profile, which is enhanced by the advantages of its membership in the wider HSBC Holdings Plc group (HSBC group, AA-/Stable/A-1+). HSBC Asia Pacific has a competitive advantage through its leading position within the Hong Kong domestic banking sector, its very strong brand name and franchise, as well as its extensive presence within the Asia-Pacific region. The bank has benefited from a more stable economic operating environment in Hong Kong with low levels of nonperforming assets (NPAs), which
