Summary: Fubon Bank (China) Co. Ltd.

Highly strategic subsidiary of Fubon FHC. The stable outlook reflects our expectation that Fubon Bank (China) Co. Ltd. will remain a highly strategic subsidiary of Taiwan-based Fubon Financial Holding Co. Ltd. (Fubon FHC: BBB+/Stable/A-2). The outlook also reflects our view that the group will maintain its credit profile over the next one to two years. We may upgrade Fubon Bank (China) if Fubon FHC group's credit profile improves meaningfully. Although unlikely in the near term, we may also raise the rating if we view Fubon Bank (China) as a core entity of the group. This could happen if the bank can improve its profit and capital contributions to the group, such that it becomes one of the major and stable

...Highly strategic subsidiary of Fubon FHC. Outlook The stable outlook reflects our expectation that Fubon Bank (China) Co. Ltd. will remain a highly strategic subsidiary of Taiwan-based Fubon Financial Holding Co. Ltd. (Fubon FHC: ###+/Stable/A-2). The outlook also reflects our view that the group will maintain its credit profile over the next one to two years. We may upgrade Fubon Bank (China) if Fubon FHC group's credit profile improves meaningfully. Although unlikely in the near term, we may also raise the rating if we view Fubon Bank (China) as a core entity of the group. This could happen if the bank can improve its profit and capital contributions to the group, such that it becomes one of the major and stable profit contributors to the group. We may downgrade Fubon Bank (China) if the group's creditworthiness deteriorates....

Summary