安融（香港）評級確認中國工商銀行股份有限公司“A”國際評級；展望:稳定
安融（香港）評級確認中國工商銀行股份有限公司“A”國際評級；展望:稳定
17 1 2025
2025年1月17日，中國香港。安融（香港）評級確認中國工商銀行股份有限公司簡稱“工商銀行”）的長期主體評級為“A”，展望為“稳定”。
評級結果肯定了工商銀行分支機構在境內外分佈廣泛，有助於業務的拓展，業務多元化程度高，風險抵禦能力進一步增強，存款穩定性較好，未來需要時獲得政府流動性支持的可能性極高。同時，安融（香港）評級也關注到受支持實體經濟力度加大、貸款市場報價利率下調等因素的影響，工商銀行淨利息收益率持續收窄；近年來受匯率波動影響該行形成一定規模匯兌損失等風險。
關鍵評級觀點
優勢
工商銀行分支機構在境內外分佈廣泛，有助於業務的拓展；
工商銀行業務多元化程度高，非利息收入對營業收入形成有益補充；
工商銀行不良貸款率逐年下降，撥備覆蓋率不斷上升，風險抵禦能力進一步增強；
定期存款占比較高且逐年提升，存款穩定性較好；
工商銀行作為國有控股大型商業銀行，已獲得控股股東增持，未來需要時獲得政府流動性支持的可能性極高.
關注
受支持實體經濟力度加大、貸款市場報價利率下調等因素的影響，工商銀行淨利息收益率持續收窄；
工商銀行國際業務規模較大，近年來受匯率波動影響該行形成一定規模匯兌損失。
評級展望
隨著發展戰略的穩步實施和內部管理的持續完善，工商銀行有望保持穩健發展，綜合實力將逐步增強，綜合考慮，安融（香港）評級給予工商銀行的信用評級展望為穩定。
注：
1、上述評級均為主動評級。
2、本文譯自英文版新聞稿。若有分歧，以英文版為准。
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《銀行業信用評級方法和模型》（2024年11月28日）
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ARHK Affirms ‘A’ International Rating to Industrial and Commercial Bank of China Limited, Outlook Stable
17 January 2025
Hong Kong, January 17, 2025. ARHK has affirmed an international scale long-term issuer credit rating of ‘A’ to Industrial and Commercial Bank of China Limited (hereinafter referred to as "ICBC"), with a stable outlook.
The rating results confirm
ICBC's extensive domestic and international branch network, which aids in business expansion, high degree of business diversification, enhanced risk resistance capability, good deposit stability, and a strong likelihood of obtaining government liquidity support when needed in the future. At the same time, ARHK also notes the impact of increased support for the real economy and the reduction in loan market quotation rates, leading to a continuous narrowing of ICBC's net interest margin; in recent years, the bank has incurred substantial foreign exchange losses due to exchange rate fluctuations.
KEY RATING PERSPECTIVES
Strengths
ICBC's branches are extensively distributed both domestically and internationally, aiding in business expansion;
ICBC has a high degree of business diversification, with non-interest income providing a beneficial supplement to operating income;
ICBC's non-performing loan ratio has decreased year by year, provisioning coverage ratio has continuously increased, further enhancing risk resistance capability;
The proportion of time deposits is relatively high and increasing year by year, resulting in good deposit stability;
As a state-controlled large commercial bank, ICBC has received increased holdings from its controlling shareholder and has a high likelihood of obtaining government liquidity support when needed in the future.
Weaknesses
The impact of increased support for the real economy and the reduction in loan market quotation rates has led to a continuous narrowing of ICBC's net interest margin;
ICBC's international business scale is relatively large, and in recent years, the bank has incurred substantial foreign exchange losses due to exchange rate fluctuations.
RATING OUTLOOK
With the steady implementation of development strategies and continuous improvement of internal management, ICBC is expected to maintain stable development, gradually enhancing its comprehensive strength. Taking all factors into consideration, ARHK assigns a stable outlook to the credit rating of ICBC.
NOTE:
1. The above ratings are all unsolicited credit ratings.
2. The Chinese version of this article is translated from the English version of the press release. In case of discrepancies, the English version shall prevail.
ANALYST CONTACTS
Analyst
Lam Yui Ying
Committee Chair
James Hu
Media Contact
Rating Services Contact
Lam Yui Ying
Date of Relevant Rating Committee: 17 January 2025
Additional information is available on www.arrating.com
Related Criteria
Sovereign Credit Rating Methods and Models (28 November 2024)
DISCLAIMER
This rating is based on information officially released to the public by the rated objects. The legality, authenticity, completeness, accuracy, and timeliness of the relevant information are the responsibility of the rated objects and its information publishers. ARHK has conducted a prudent analysis of the rating information based on the principles of relevance, timeliness, and reliability, but does not guarantee the legality, authenticity, completeness, accuracy, and timeliness of the above information. The rating results did not take into account non-public information that may have a significant impact on the credit rating and could not be obtained.
Any statements and judgments regarding the credit status of the rated objects in this report are only for reference in relevant decision-making and do not imply that ARHK substantively recommends any user to invest, borrow or lend money, and trade based on this report, nor can they be used as a basis for users to purchase, sell, or hold related financial products. Under no circumstances shall ARHK, as well as its directors, shareholders, employees, or representatives be liable for any damages, expenses, costs, or losses incurred by any investor (including institutional and individual investors) as a result of using the analysis results presented in this report, nor shall they be liable for any consequences arising from the use of this report by the rated objects or their issuers or providing this report to other parties.