Ratings announced On 3 November 2017 that it has affirmed the Long-Term Issuer
Default Rating (IDR) of Bank ABC at
BBB- with a
stable outlook. ABC's Long-Term IDR is driven by the Bank's standalone
strength, as reflected by the Viability Rating (VR), which was also affirmed at
to Fitch, the rating action reflects its view of the potential and historical institutional
support from ABC’s founding shareholders, the Bank's good fundamental credit
quality, the expected prospects for its ongoing viability and its reasonably
stable financial metrics.
also is of the opinion that Bank ABC has a competent management team that is
experienced in regional and international banking, showing strong
implementation of the Bank’s strategic plans.
ABC’s ratings are not constrained by the Bahrain Country Ceiling. Indeed, the majority
of ABC’s assets and liabilities are outside of Bahrain as Fitch stated.
Chief Executive Officer of Bank ABC, Dr. Khaled Kawan, commented on the rating
affirmation: “We welcome this well-earned confirmation. It speaks directly to
our continuing prudent risk management and ongoing efforts to adjust our
business model to respond to a deeply changing industry.”
added, “We will continue to leverage our unique footprint, strong capital and
global product and service offering to better attend to the needs of our
clients and deliver sound and strong performance to our Shareholders.”
is a leading player in the region’s banking industry and provides innovative
wholesale financial products and services that include corporate banking, trade
finance, project and structured finance, syndications, treasury and financial
markets products and Islamic banking. It also provides retail-banking services
through its network of retail banks in Jordan, Egypt, Tunisia and Algeria.