Strengths: Core entity within the Standard Chartered group Solid franchise in Hong Kong Good overall financial profile Relatively high operating costs Operating in highly competitive Hong Kong market Sizable and growing indirect exposure to emerging markets The ratings on Standard Chartered Bank (Hong Kong) Ltd. (SCBHK) reflect the bank's status as a core entity within the Standard Chartered group, which is 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 standalone basis, the ratings on SCBHK reflect the bank's solid franchise in Hong Kong and its good financial profile, but are constrained by its relatively high operating costs and strong competitive pressures
