Arab Bank Group gets stable outlook
Beirut, December 28, 2010
Standard and Poor's, the international credit rating agency has affirmed the ratings of Arab Bank Group at “A-” with “Stable” outlook.
The ratings reflect Arab Bank's strong financial strength, high asset quality and robust capitalization as represented by its high capital adequacy ratios that exceed the requirements set by regulatory authorities, said a statement from the bank.
The ratings further reflect the bank's conservative approach in managing risks, and its prudent balance sheet management and liquidity.
Abdel Hamid Shoman, executive chairman of Arab Bank said, "The affirmation of the distinguished ratings, notwithstanding the global financial crises, reflects the Bank's sound banking strategies and the confidence of the rating agencies."
Established in 1930, Arab Bank, the first private sector financial institution in the Arab World, is ranked amongst the largest international financial institutions, with ratings of (A3) by Moody’s and (A-) by both S&P and Fitch.-TradeArabia News Service