Fitch affirms Arab Bank at 'A-'; Reflection of Consistent Profitability and Financial Strength
23 May, 2010
Fitch Ratings has recently affirmed Arab Bank's rating of 'A-' with a Stable Outlook. The affirmation of Arab Bank's reflects its leading position in the Middle East, extensive global presence, consistent profitability, sound asset quality and strong capital base. The ratings further reflect the bank's stable customer funding, diversification of risk and revenues, and prudent balance sheet management, with a strong focus on liquidity.
Mr. Abdel Hamid Shoman, Executive Chairman of Arab Bank stated that affirmation of the rating reflects the confidence of the various parties dealing with Arab Bank and confirms the Bank's strong position in the Arab and international markets.
It is also noteworthy that Arab Bank has also been recently reaffirmed by Standard and Poor’s with a rating of (A-) and by Moody’s with a rating of (A3).