Dubai - Mubasher: Fitch Ratings has assigned a Long-Term Issuer Default Rating (IDR) of ‘A’ for the Arab bank for investment & foreign trade (Al Masraf), with a stable outlook.
The rating agency has affirmed the bank’s short-term IDR at “F1”, Fitch said in a statement.
“We are happy to receive ‘A’ rating from Fitch based on the review and this outcome is attributed to the efficiency of our business strategy that supports the banks objectives of quality & sustainable growth as well as support and confidence bestowed in us from our shareholders,” Faisal Galadari, CEO of Al Masraf, commented.
He added that the bank’s financial performance and its ability to achieve continuous growth are clear evidence of its distinguished performance.
“We continue to strive to become an innovative and preferred financial partner for all banking services in the region in line with banks vision,” Galadari pointed out.
