Mubasher: Capital Intelligence (CI) has affirmed Al Ahli Bank’s Long-Term Foreign Currency Rating (FCR) to 'A' and affirmed its Short-Term FCR at 'A2', with a 'Negative' Outlook, The international credit rating agency said in a report on Thursday.
CI also maintained the Support Rating of ‘1’ in view of the high likelihood of support from the bank’s strong governmental shareholders, as well as from official sources in case of need.
The Financial Strength Rating (FSR) is also affirmed at ‘A-’, with a ‘Stable’ Outlook, on the grounds of very sound loan asset quality, ongoing strong profitability (despite the decline), and good capital adequacy.
Assets of the Qatar Stock Exchange-listed lender amounted to QAR 38.2 billion in September 2017, while its capital rose to QAR 5.2 billion.
The factors constraining the FSR are the liquidity, in addition to the impacts of the Gulf rift with Doha on Qatar's banking sector and the ABQ’s pool of liquid assets.
