LOS ANGELES, June 21, 2023–(BUSINESS WIRE)–Moody’s Investor Service (Moody’s) has assigned first-time ratings to CTBC Bank USA including the long-term and short-term deposit ratings of A2/Prime-1 with a baa1 Baseline Credit Assessment (BSA), the bank announced today.
“CTBC Bank USA is proud of Moody’s recognition of our strong deposit, credit and management assessments, particularly in light of recent industry events and market uncertainty,” said Noor Menai, President & CEO of CTBC Bank USA. “The new rating and distinction is a recognition of our business model of creating an ultra-reliable, successful bank, while preserving our values of customer and community investment.”
According to the new Moody’s report, the rating reflects the benefit to creditors from the bank’s very high capital and strong risk management. Additionally, Moody’s added that CTBC Bank USA also has a very high level of support from its parent CTBC Bank Co., its strategic commitment to its U.S. subsidiary and U.S. market, oversight and board representation, as well as sizable liquidity and deposit placement lines that CTBC Bank USA could utilize, if needed.
Further, the assigned ratings also incorporate CTBC’s environmental, social and governance (ESG) considerations, as per Moody’s ESG classification. Moody’s views CTBC’s financial performance and risk management practices as appropriate and conservative, resulting in a governance issuer profile score (IPS) of G-2.
About CTBC Bank Corp. (USA)
CTBC Bank USA is a trusted and established financial institution for commercial and retail customers. Founded in 1989 and headquartered in Los Angeles, CTBC Bank operates branches in California, New Jersey, and New York. The bank’s operations include deposits, loans, credit cards, foreign exchange, letters of credit, wealth management, mobile, and electronic banking services. Customers benefit from access to large bank resources coupled with individual attention and customized service of a small bank. Its parent company, CTBC Bank Co. Ltd., is supported by more than $240 billion in assets and is among the largest banks in the world in terms of capital. For more information about CTBC Bank, visit www.ctbcbankusa.com.
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Contacts
Dan Margolis, for CTBC Bank
+1 (213) 452-6472
[email protected]
Sean Liao, for non-English language media
+1 (424) 277-4531
[email protected]
