Banque du Caire – R atings A ffirmed with a Stable Outlook

Ref: EG 0 0 821 CRA00-01 14 September 2 0 2 2

Banque du Caire – R atings A ffirmed with a Stable Outlook

Capital Intelligence Ratings (CI Ratings or CI) has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Banque du Caire (BdC) at ‘B+’ and ‘B’, respectively. At the same time, CI Ratings has affirmed BdC’s Bank Standalone Rating ( BSR ) of ‘b’, Core Financial Strength ( CFS ) rating of ‘bb-’ and Extraordinary Support Level (ESL) of Moderate. The Outlook for the LT FCR and BSR remains currently Stable.

CI’s ESL assessment results in a one notch uplift for the Bank’s LT FCR. The ESL of Moderate reflects the likelihood of official extraordinary support given BdC’s effective government ownership. While CI considers the Egyptian government to be willing to provide extraordinary support, its financial capacity may be somewhat limited…