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 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 high operating costs and protracted pressure on loan yields in the competitive Hong Kong market. Hong Kong remains one of the largest single markets for the SCB group in terms of profit contribution. SCBHK not only has a key role to play in
