Abu Dhabi Commercial Bank establishes its position among the higher -rated banks from the agency "S & B."
Abu Dhabi, March 24 / WAM / The S & B Global Ratal Code, raised its long -term credit rating of Abu Dhabi Commercial A+ with a stable future look, in light of the strong financial position of the bank and improving the quality of its assets.
According to a press release issued by the bank today, this classification contributes to enhancing the position of Abu Dhabi Commercial Bank among the higher -rated banks by S & B in the Middle East and North Africa.
The high credit rating within the investment class categories confirms the stability of the bank’s business and its high safety, which gives it a competitive advantage in the cost of obtaining capital.
The raising of the bank’s classification comes in conjunction with the past in implementing its ambitious new strategy to maintain its steady growth and double its profits to 20 billion dirhams within five years.
According to the bank, in this context, “S & B” indicated in a recent research note, that the high capacity of Abu Dhabi Commercial Bank to achieve profits and maintain high levels of capital that supports its strong financial position, considering this as a major strength of credit rating.
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