Abu Dhabi-Mubasher: Capital Intelligence Ratings (CI Ratings) affirmed the financial strength rating (FSR) of United Arab Bank (UAB) at “BBB+”, according to a statement.
The rating is based on “the bank’s aggressive provisioning as well as its commitment to maintaining strong coverage on impaired loans”, reflecting its capital adequacy ratio (CAR), reasonably good operating profitability and satisfactory liquidity.
UAB’s long-term foreign currency rating (FCR) is maintained at “BBB+” and the short-term FCR at “A2”, while the support rating remains at ‘3’. The outlook for the FCR is changed to “negative” from “stable”.
