Abu Dhabi – Mubasher: Capital Intelligence (CI) on Wednesday affirmed Bank of Sharjah’s (BOS) short-term and long-term foreign currency ratings at ‘A-‘ and ‘A2’, respectively, according to a recent report.
CI gave the Abu Dhabi-listed bank a 'stable outlook', the report added.
The ratings agency attributed its rating for the bank to the stake owned by the government of Sharjah, which will likely provide the bank with help if needed.
Bank of Sharjah’s recently reported that its profits decreased by 13.6% year-on-year to AED 152 million ($41.3 million) in the first half of 2017, compared to AED 176 million ($47.9 million) in H1-16.
