ABC Investment Bank ran to BBB- from Fitch

ABC (Arab Banking Corporation, B.B., one of the leading international banks and its headquarters in the Kingdom of Bahrain, announces the fact that the credit rating agency has raised its long-term credit rating (IDR) to “BB-” from “BB+”, and the autonomous credit capacity (VR) to “BB-” from “BB+”. The agency also gave a stable future outlook for the classification.

The rating of the classification came as a result of the improvement of the bank’s risk file, the diversity of its international operations, the durability of its capitalist position and its liquidity. Fitch also praised the quality of the bank’s enhanced assets, his prolonged risk management, and the strategic balance towards less risky markets.

The agency described “the bank has a strong presence network at the regional level and a wide geographical diversity” as one of the most prominent strengths, in addition to “its effective management of market risk, providing a suitable capital, quality of capital assets, financing and stable liquidity.” Fitch also pointed to the improvement of the bank’s operational environment and the bank’s performance stiffness in the basic markets.

One of the essential aspects that Fitch emphasized is that the classification of ABC Bank is not bound by the sovereign classification of its local market, which reflects the strength and independence of its international financing portfolio and the level of liquidity outside the local market.

The rating of the classification comes to achieve the compatibility of ABC categories at the level of the investment degree across the two most important international agencies, as the Standard & Poor’s (S&P) also continues the bank classification at ‘BB-‘ with a stable future look.

Commenting on the raising of the classification, Mr. Sail Al -Waeri, CEO of ABC Group, said: “The rating of the classification represents a major achievement for ABC Bank, and is a strong testimony to the effectiveness of implementing the bank’s strategy and future vision.

It also enhances the bank’s strengths, expands the scope of access to a broader base of investors and financing sources, and reflects the competitive advantages of our international business model. We confirm our commitment to maintaining a strong and varied budget, and achieving a long -term value for all our partners. “