The holding company issuer credit rating (ICR) shown applies to Standard Chartered PLC. The issuer credit rating and resolution counterparty rating shown applies to Standard Chartered Bank and its core operating subsidiary, Standard Chartered Bank AG. The stable outlook on Standard Chartered PLC (SC PLC, the holding company of the Standard Chartered group) mainly reflects our view that the group will maintain its adequate risk management in the coming two years. We expect Standard Chartered group to maintain asset quality and credit losses that are broadly comparable with its global systemically important bank (G-SIB) peers'. The group has made steady progress in cleaning up its balance sheet and strengthening its risk management since 2015. Its performance has been resilient through
