Abu Dhabi - Mubasher: Capital Intelligence Ratings (CI Ratings) has affirmed the long-term and short-term foreign currency ratings of Abu Dhabi Commercial Bank (ADCB) at 'A+' and 'A1', respectively, with a stable outlook.
CI Ratings has also affirmed the bank's standalone rating (BSR) of 'bbb+' and core financial strength (CFS) rating of 'bbb+', according to a recent press release.
Affirming the ratings reflects ADCB's large size and good presence, especially following the merger with Union National Bank (UNB) and its acquisition of Al Hilal Bank (AHB), alongside the UAE government's support to the banking system.
Meanwhile, the stable outlook has referred to the rating agency's expectation that the ratings will not change over the next 12 months.
CI Ratings has also forecast that the undergoing economic recovery will have an impact on bank financials in the coming quarters.
