Fitch assigns long-term credit to bank
Fitch Ratings has assigned the long-term credit rating of the investment bank in the UAE as «BBB+» with a stable outlook, and a support rating of «bbb+», reflecting the strength of the bank’s financial position and improved financial performance following a restructuring process that lasted for several years. This comes as part of a strategy to enhance performance, develop governance, and increase sustainable growth, with expectations of continued improvement in liquidity, reduction of non-performing assets, and stronger engagement with investors in the UAE market. The rating represents an important milestone in the bank’s progress and its ability to compete and grow over the long term.
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