Established franchise in Hong Kong. Moderate likelihood of support from the Hong Kong government. Adequate capitalization. Relatively high exposure to China, which has higher economic risk. Economic outlook of major markets dampened by the heightening tensions between U.S., China, and Hong Kong, and the global slowdown amid the COVID-19 pandemic. Loan concentration in property sectors. The stable outlook on The Bank of East Asia Limited (BEA) reflects our view that the group will likely maintain adequate capital buffer to withstand credit risks in the markets where it operates, mainly Hong Kong and mainland China, for the next one to two years. At the same time, we expect the group to maintain adequate underwriting standards, stringent collateral requirements, and a controlled
