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/Negative/A-1). The ratings on SCBHK are equalized with the ratings on its immediate parent, Standard Chartered Bank (SCB; A+/Negative/A-1). On a stand-alone basis, the ratings on SCBHK reflect the bank's solid franchise in Hong Kong and its strong financial profile. The ratings are constrained by its relatively high operating costs and its growing indirect exposure to emerging markets, channeled by the parent group's global network, along with protracted pressure on loan yields in the highly competitive Hong Kong market. Hong Kong remains the largest single market for the SCB group
