Abu Dhabi - Mubasher: Fitch Ratings has affirmed the long-term issuer default rating (IDR) for Commercial Bank International (CBI), listed on the Abu Dhabi Securities Exchange (ADX), at 'BBB+', with a stable outlook.
The New York-based credit rating agency also affirmed CBI’s viability rating (VR) at 'b+' and maintained its short-term IDR at 'F2', according to a press release.
The bank’s support rating (SR) has been affirmed at '2', while its support rating floor (SRF) has been confirmed at 'BBB+', Fitch Ratings added.
In April, CBI announced it achieved a net profit of AED 20 million during the first quarter of 2019, down from AED 39.5 million in Q1-18.
The bank’s operating income increased by 1% year-on-year to AED 207.5 million in Q1-19 from AED 206.5 million.
