Arab International Bank – Outlook Lowered to Negative Following Similar Sovereign Action

Ref : EG004 23PBK 00-01 23 March 2 0 23

Arab International Bank – Outlook Lowered to Negative Following Similar Sovereign Action

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has lowered the Outlook on the Long-Term Foreign Currency Rating (LT FCR) and Bank Standalone Rating (BSR) of Arab International Bank (AIB) to Negative from Stable . The chan ge in the o utlook follows a recent similar rating action on Egypt’s sovereign o utlook . The level of Egyptian government securities held by AIB is high in relation to capital. Given this factor, together with the Bank’s ownership, we therefore believe there to be a close linkage to the ratings of the s overeign. At the same time, AIB’s LT FCR and Short-Term Foreign Currency Rating (ST FCR) have been affirmed at ‘B+’ and ‘B’, respectively. CI Ratings has also affirmed AIB’s BSR of ‘b+’, Core Financial…