Very high likelihood of support from the Korean government Adequate capitalization Improving asset quality in recent years Moderate market presence Below-average retail customer base The stable outlook on Suhyup Bank reflects our view that the bank will maintain fairly stable asset quality and credit costs, and has a very high likelihood of receiving government support over the next 18-24 months. We expect the bank's loan growth to increase on the back of its improved capital base after a recent capital injection from the government during the spin-off from the National Federation of Fisheries Cooperatives (NFFC). However, we anticipate the bank will continue to implement adequate underwriting standards, and we do not expect the bank to have significant concentration risks in
