Bank of Alexandria – Ratings and Stable Outlook Affirmed

11 June 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 Bank of Alexandria S.A.E. (Alexbank or the Bank) at ‘B’ and ‘B’, respectively. At the same time, CI Ratings has 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 Stable.

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 extraordinary support to the Bank if needed. The LT FCR is, however, not notched up for this support, as the Bank does not meet our criteria for being rated above Egypt’s sovereign rating of…