Core entity within the Standard Chartered group Solid franchise in Hong Kong Good overall financial profile Mature and competitive home market High exposure to Hong Kong property The ratings on Standard Chartered Bank (Hong Kong) Ltd. (SCBHK) reflect the bank's status as a core entity within the Standard Chartered group, led by Standard Chartered PLC (A/Stable/A-1). The ratings on the bank are equalized with the ratings on its immediate parent, Standard Chartered Bank (SCB; A+/Stable/A-1). On a stand-alone basis, the ratings on SCBHK reflect the bank's solid franchise in Hong Kong and its good financial profile. The bank's capitalization is satisfactory. SCBHK's stand-alone credit profile is constrained by the bank's geographic concentration in its mature and saturated home market, Hong
