Mubasher: Capital Intelligence Ratings (CI Ratings) has withdrawn all the ratings for First Gulf Bank (FGB) following its merger with National Bank of Abu Dhabi (NBAD) on 1 April 2017, according to a statement.
The ratings agency affirmed, at the time of withdrawal, FGB’s financial strength rating (FSR) at "A+" on the back of “the bank’s solid capitalisation, sound asset quality, and strong profitability, as well as its good customer franchises”.
The long-term foreign currency rating (FCR) was affirmed at "A+" and the short-term FCR at "A1", with the support rating maintained at "2" and the outlook for all the ratings as “stable”.
