Highly strategic subsidiary of the Citi group. Strong capitalization. Limited exposure to risky industries relative to local peers. Small market share relative to local peers'. Moderate profitability under intense competition with local peers. Potential pressure on asset quality from high household leverage. The stable outlook on Korea-based Citibank Korea Inc. (CKI) follows our stable outlook on the bank's U.S. affiliate, Citibank N.A., which is the main operating entity of the Citi group. We expect that CKI will maintain its high strategic importance to the Citi group. We also believe that the group has both the capacity and the willingness to provide significant support to CKI if needed. We could downgrade CKI if we lower our ratings on Citibank N.A. We
