Cairo Amman Bank – Foreign Currency Ratings Affirmed; CFS Lowered

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 Cairo Amman Bank (CAB or the Bank) at ‘BB-’ and ‘B’, respectively. The LT FCR Outlook remains Stable. At the same time, CI Ratings has lowered CAB’s Core Financial Strength (CFS) rating to ‘bb-’, and affirmed the BSR of ‘bb-’ with a Negative Outlook. The Bank’s Extraordinary Support Level (ESL) remains Moderate.

The Bank’s CFS rating was revised to ‘bb-’ (from ‘bb’), reflecting the deterioration in loan asset quality and profitability metrics. NPLs increased significantly in 2024 and into Q1 2025, loan-loss reserve (LLR) coverage has declined, and elevated provisioning charges have weighed on net profitability. The CFS is supported by the Bank’s strong domestic franchise and well-recognised brand, which underpin its retail banking operations in Jordan’s highly…