Al Masraf – Ratings Affirmed with a Stable Outlook

28 August 2026

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Al Masraf (or the Bank) at ‘A’ and ‘A1’, respectively. At the same time, CI Ratings has affirmed Al Masraf’s Bank Standalone Rating (BSR) of ‘bbb’, Core Financial Strength (CFS) rating of ‘bbb-’ and Extraordinary Support Level (ESL) of High. The Outlook for the LT FCR and BSR is Stable.

The LT FCR is set three notches above the BSR to reflect our assessment of the high extraordinary support available to the Bank from the UAE government (sovereign ratings: ‘AA‑’/‘A1+’/Stable). The high ESL is firmly anchored in the 60% ownership by Emirates Investment Authority (EIA), the Sovereign Wealth Fund of the Federal Government of the UAE, which rose from 42.3% in December 2025, alongside the government’s strong track record of supporting the UAE banking…