Chinese Banks' International Excursions Won't Shake Credit Stability At Home Jul 12

Standard & Poors, July 2012

Abstract
Chinese banks have long been virtually invisible in the global banking arena despite their extensive assets and liquidity at home. Offshore operations accounted for less than 10% of the total assets of most leading Chinese banks at the end of 2011. But overseas assets, excluding those of Bank of China Ltd. (BOC: A/Stable/A-1; cnAA+/cnA-1), have been growing at a phenomenal pace and have actually increased by 176% in the past three years. (Listen to the related podcast, titled "Will Chinese Banks' International Excursions Shake Credit Stability At Home-, dated July 31, 2012. Standard & Poor's Ratings Services does not expect Chinese banks' overseas expansions to affect its credit ratings on these banks in the next two to three years. In...

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- Chiao Tung Bank
- Bank of Communications Co. Ltd.
- Bank of China Ltd.
- Industrial and Commercial Bank of China Ltd.
- Bank of Taiwan
- Chinatrust Commercial Bank
- First Commercial Bank Ltd.
- Mega International Commercial Bank Co. Ltd.
- Cathay United Bank Co. Ltd.
- Chang Hwa Commercial Bank Ltd.
- Taiwan Cooperative Bank Ltd.
- Hua Nan Commercial Bank Ltd.
- Central Reinsurance Corp.
- Chung Kuo Insurance Co. Ltd.
- The First Insurance Co. Ltd.
- Fubon Insurance Co. Ltd.
- Zurich Insurance (Taiwan) Ltd.
- MSIG Mingtai Insurance Co. Ltd.
- Tai Ping Insurance Co. Ltd.
- Taiwan Fire & Marine Insurance Co. Ltd.
- China Construction Bank Corp.
- AIU Insurance Co. Taiwan
- China Steel Corp.
- China Development Industrial Bank
- Grand Commercial Bank
- Taiwan Power Co.
- Farmers Bank of China
- Capital Securities Co. Ltd.
- Grand Cathay Securities Corp.
- Jih Sun Securities Co. Ltd.
- Masterlink Securities Corp.
- SinoPac Securities Corp.
- Central Trust of China
- Taipei Fubon Commercial Bank Co. Ltd.
- Taiwan Acceptance Corp.
- The Shanghai Commercial & Savings Bank Ltd.
- Yuanta Core Pacific Securities Co. Ltd.
- Mega Bills Finance Corp.
- E. Sun Bills Finance Corp.
- E.SUN Commercial Bank Ltd.
- Fubon Securities Co. Ltd.
- Yulon Motor Co. Ltd. (Unsolicited Ratings)
- Yuanta Commercial Bank
- Bank of Kaohsiung
- Bank of Overseas Chinese
- KGI Securities Co. Ltd.
- Chinatrust Bills Finance Corp.
- China United Trust & Investment Corp.
- Chinfon Commercial Bank
- Cosmos Bank
- International Bank of Taipei
- Polaris Securities Co. Ltd.
- President Securities Corp.
- Chinese Bank (The)
- Union Bank of Taiwan
- Land Bank of Taiwan
- Oriental Securities Corp.
- Hua Nan Securities Co. Ltd.
- Pacific Securities Co. Ltd.
- Taitung Business Bank
- Cathay Century Insurance Co. Ltd.
- Bank SinoPac
- Chunghwa Telecom Co. Ltd.
- Shinkong Insurance Co. Ltd.
- Union Insurance Co. Ltd.
- Far EasTone Telecommunications Co. Ltd.
- Hon Hai Precision Industry Co. Ltd.
- Taiwan Life Insurance Co. Ltd.
- United Microelectronics Corp.
- Shin Kong Life Insurance Co. Ltd.
- China Life Insurance Co. Ltd.
- Cathay Life Insurance Co. Ltd.
- Kuo Hua Life Insurance Co. Ltd.
- AIG Taiwan Insurance Co. Ltd.
- Taian Insurance Co. Ltd.
- Kuo Hua Insurance Co. Ltd.
- Federal Insurance Co. Taiwan
- Bank of China (Hong Kong) Ltd.
- Mosel Vitelic Inc.
- Fubon Financial Holding Co. Ltd.
- Fubon Life Assurance Co. Ltd.
- Ritek Corp.
- Siliconware Precision Industries Co. Ltd.
- Yang Ming Marine Transport Corp.
- Taiwan Semiconductor Manufacturing Co. Ltd.
- CMC Magnetics Corp. (Unsolicited Ratings)
- EnTie Commercial Bank
- Standard Chartered Bank (Taiwan) Ltd.
- Industrial Bank of Taiwan
- Taiwan Shin Kong Commercial Bank Co. Ltd.
- Sunny Bank
- Ta Chong Bank Ltd.
- Taiwan Business Bank
- China Airlines Ltd.
- Formosa Chemicals & Fibre Corp.
- Formosa Plastics Corp.
- Formosa Petrochemical Corp.
- Fortune Motors Co. Ltd.
- Nan Ya Plastics Corp.
- Taiwan Sugar Corp.
- Taiwan International Securities Co. Ltd.
- Mega Securities Co. Ltd.
- Chinese Petroleum Corp.
- Cathay Financial Holding Co. Ltd.
- China Development Financial Holding Corp.
- Hwatai Bank
- Bank of Panhsin
- Cota Commercial Bank
- Fubon Commercial Bank
- King's Town Bank
- Enterprise Bank of Hualien
- Yuanta Securities Co. Ltd.
- Yuanta Securities Finance Co. Ltd.
- Global Securities Finance Corp.
- Fubon Securities Finance Co. Ltd.
- Chinatrust Financial Holding Co.
- Qisda Corp.
- Macronix International Co. Ltd.
- Quanta Computer Inc.
- SinoPac Holdings
- Tachan Securities Corp.
- Chinatrust Securities Co. Ltd.
- Taichung Commercial Bank
- South China Insurance Co. Ltd.
- IBT Securities Co. Ltd.
- Mai-Liao Power Corp.
- Jih Sun International Bank
- Hua Nan Financial Holding Co. Ltd.
- Mega Financial Holding Co. Ltd.
- Wan Hai Lines Ltd.
- Quanta Display Inc.
- HannStar Display Corp.
- Citibank Securities (Taiwan) Ltd.
- China Merchants Bank Co. Ltd.
- Nanya Technology Corp.
- Lung Yen Life Service Co. Ltd.
- First Financial Holding Co. Ltd.
- Maxtek Technology Co. Ltd.
- Cathay Securities Corp.
- Tokio Marine Newa Insurance Co. Ltd.
- Shin Kong Financial Holding Co. Ltd.
- EnTie Securities Finance Co. Ltd.
- Ho-Ping Power Co.
- Prudential Life Insurance Company of Taiwan Inc.
- AEGON Life Insurance (Taiwan) Inc.
- Shinshin Credit Corp.
- Allianz Taiwan Life Insurance Co. Ltd.
- Chinatrust Life Insurance Co. Ltd.
- Yuanta Financial Holdings Co. Ltd.
- Inotera Memories Inc.
- Fubon Life Insurance Co. Ltd.
- Agricultural Bank of Taiwan
- Morgan Stanley Taiwan Ltd.
- Big Sun Energy Technology Inc.
- Citigroup Global Markets Taiwan Securities
- Dah Chang Securities Co. Ltd.
- Union Bills Finance Co. Ltd.
- Huga Optotech Inc.
- First-Aviva Life Insurance Co. Ltd.
- HSBC Bank (Taiwan) Ltd.
- Taishin Financial Holding Co. Ltd.
- E.SUN Financial Holding Co. Ltd.
- J Touch Corp.
- Taiwan Mobile Co. Ltd.
- Test Rite International Corp.
- Compal Electronics Inc.
- Fubon Bills Finance Corp.
- Unimicron Technology Corp.
- Nan Ya Printed Circuit Board Corp.
- Powerchip Semiconductor Corp.
- Chi Mei Corp.
- Pan Ram International Corp.
- KWorld Computer Co. Ltd.
- Asia Cement Corp.
- Everlight Electronics Co. Ltd.
- Carplus Auto Leasing Corp.
- Yuan Ding Investment Corp.
- Far Eastern New Century Corp.
- Hotai Finance Corp.
- Hotai Leasing Corp.
- Chailease Finance Co. Ltd.
- Neo Solar Power Corp.

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