Mubasher: Capital Intelligence Ratings (CI) on Wednesday affirmed the long term and short term credit ratings of Arab Banking Corporation (ABC) at ‘BBB+’ and ‘A2’, respectively, with a stable outlook.
The current ratings are not likely to change within the coming 12 months, which reflects the quality of ABC’s assets and the strength of its liquidity, the rating agency added in a statement.
CI noted that the bank’s ratings were affirmed despite the potential economic threats including shocks in oil prices and the ongoing geopolitical tensions.
Earlier in May, ABC reported an increase of 3.7% in net profits attributed to shareholders during the first quarter of 2019 compared to the same period a year ago.
