We expect Bank of Communications Co. Ltd. (BoCom) to maintain a measured appetite for growth amid heightened economic uncertainty in China. We believe this will help the bank preserve its capital buffer despite profitability pressure over the next two years. We affirmed our 'A-' long-term and 'A-2' short-term issuer credit ratings on BoCom and its subsidiaries. We also affirmed the ratings on the debt these entities issued or guaranteed. The stable outlook on the long-term rating reflects our expectation that the bank will maintain its strong business position, adequate capitalization, and asset quality in line with peers' over the next two years. On Feb. 19, 2025, S&P Global Ratings affirmed its 'A-' long-term and 'A-2' short-term issuer credit ratings on
