CIB Bank – Ratings Upgraded and Stable Outlook Affirmed

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has raised the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of CIB Bank (CIB or the Bank) to ‘BBB-’ and ‘A3, respectively, from ‘BB+’ and ‘B’. At the same time, CI has upgraded both CIB’s Bank Standalone Rating (BSR) and Core Financial Strength (CFS) rating to ‘bb+’, and affirmed the ESL of Moderate. The Outlook on the LT FCR and BSR remains Stable.

The upgrade to CIB’s CFS rating is driven by the sustained improvements in asset quality, profitability and liquidity. The NPL ratio declined to a very low level in 2024, following the substantial reduction achieved in 2023. While a rise in Stage 2 exposures points to underlying credit risk, this is mitigated by the Bank’s strengthened provisioning and robust capital position, which together provide ample capacity to absorb potential credit pressures. CIB’s resilience is further supported by…