Bank of Alexandria – Ratings Affirmed ; Outlook Remains Negative

Ref : EG 0072 3 CRA 00-01 1 7 July 202 4

Bank of Alexandria – Ratings Affirmed ; Outlook Remains Negative

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 Bank of Alexandria ( Alexbank ) at ‘B’ and ‘B’, respectively. At the same time, CI Ratings has affirmed Alexbank’s Bank Standalone Rating ( BSR ) of ‘b’, Core Financial Strength ( CFS ) rating of ‘bb’ , and Extraordinary Support Level ( ESL ) of High. The Outlook for the LT FCR and BSR remains Negative.

The Bank’s BSR of ‘b’ is derived from a CFS rating of ‘bb’ and an Operating Environment Risk Anchor ( OPERA ) of ‘b’. The ESL of High is based on Intesa Sanpaolo (ISP) ownership. CI considers that the Italian parent has the capacity and willingness to provide…