Moody’s and Fitch rating agencies have affirmed Gulf International Bank’s (GIB) long-term credit rating at ‘A’, with a ‘Stable’ outlook.
Moody’s has earlier affirmed GIB’s senior debt and foreign currency deposit rating at ‘A3’, and upgraded the outlook from ‘negative’ to ‘Stable’.
GIB's ratings reflected the bank's solid liquidity and capitalisation, according to the rating agency’s statement.
"The affirmation of the Viability Rating also reflects Fitch's assessment of GIB on a standalone basis without shareholder support and reflects GIB’s experience, fundamental financial strength and risk profile,” said the bank’s CEO Yahya Alyahya.
