Fitch grants first long-term rating to the bank
Fitch Ratings has assigned the investment bank Shari'ah-compliant "INB" a long-term credit rating of "BBB+" with a stable outlook, along with a support rating of "bbb+". This is the bank’s first rating of its kind and reflects significant progress in strengthening its financial position and repositioning itself for sustainable growth. The rating comes as part of the transformation program launched by the bank aimed at improving its financial performance, enhancing governance, increasing its capital base, and strengthening its liquidity. The agency confirms that the bank’s performance is continuously improving, with expectations of ongoing declines in non-performing assets, while maintaining appropriate levels of capital and liquidity, despite its currently limited domestic market share. Achieving this rating is an important step in the bank’s journey towards establishing a more resilient and robust financial position, with a focus on delivering sustainable value to shareholders and providing an improved customer experience.
Notice: This Is an AI-Generated Summary
Comments (0)