CITIC Bank Fitch Ratings Upgraded to "A-"

On April 1, Fitch Ratings released a report, upgrading China CITIC Bank’s long-term foreign currency issuer default rating (IDR) from “BBB+” to “A-,” with a stable outlook. This is the second time Fitch has upgraded China CITIC Bank’s rating after it was raised from “BBB” to “BBB+” in 2023, marking the highest rating level among joint-stock commercial banks.

Fitch is one of the three globally recognized international credit rating agencies. Its rating results have strong market credibility and international influence, and are widely recognized by investment institutions worldwide. Fitch’s rating report shows that this upgrade is mainly based on China CITIC Bank’s strong operating performance, robust shareholder support, and its level of systemic importance.

In recent years, China CITIC Bank has stayed true to its original mission of serving the real economy through financial services, continuously deepening its strategic transformation and with operating performance steadily improving. Facing industry-wide operating pressures, the bank has maintained resolve and pressed forward under pressure, showing a balanced, steady, and sustainable momentum of high-quality development. During the “14th Five-Year Plan,” it delivered an outstanding set of results with real substance, demonstrating the resilience of its ability to deliver performance and contribute value in complex environments. On the other hand, CITIC Group’s support for the bank has been solid and strong, enabling it to create competitive advantages through coordinated empowerment. During the conversion of the bank’s convertible bonds in 2025, CITIC Group will convert 100% of the convertible bonds it holds, showing CITIC Group’s strong willingness to support China CITIC Bank’s development and its strong strength as a major shareholder. Under CITIC Group’s system of “full financial licenses and broad coverage of real businesses,” China CITIC Bank, as the Group’s main coordinated platform, turns its “unique” ecosystem advantages into “distinct” competitive strengths. In addition, as a domestically systemically important bank, China CITIC Bank’s business scale, market influence, and risk-resilience capabilities have continued to strengthen, and regulatory recognition has continued to rise.

With China CITIC Bank’s rating moving into the “A-” range, it reflects international credit rating agencies’ recognition of the bank’s solid operating performance, clear operating logic, and strong operating potential. This will help China CITIC Bank further enhance its credit image and investor recognition in international capital markets. China CITIC Bank said it will continue to actively do a good job in “five major articles” for financial services, keep advancing the value-bank initiative, and build up new momentum for development in the “15th Five-Year Plan” period, to repay investors and the capital market with even more outstanding operating results.

(Editor: Wang Lei)

	 【Disclaimer】【Advertisement】This article only represents the personal views of the author and is not related to Hexun. The Hexun website remains neutral regarding the statements and judgment calls made in the text, and provides no express or implied guarantees regarding the accuracy, reliability, or completeness of any content contained herein. Readers are advised to use this information only as reference and bear full responsibility for their actions. Email: news_center@staff.hexun.com