Emirates NBD – Ratings Affirmed with a Stable O utlook

Ref: AE0 31 2 2 CRA00- 0 1 5 October 202 3

Emirates NBD – Ratings Affirmed with a Stable O utlook

Capital Intelligence Ratings (CI Ratings or CI ) today announced that it has affirmed the Long-Term Foreign C urrency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Emirates N BD PJSC (ENBD) at ‘A+’ and ‘A1’, respectively. At the same time, CI Ratings has affirmed ENBD’s Bank Standalone Rating (BSR) of ‘bbb’, Core Financial Strength (CFS) rating of ‘a-’ and Extraordinary Support Level (ESL) of Very High . The Outlook for the LT FCR and BSR is Stable .

The Bank’s LT FCR is set four notches above the BSR to reflect the ESL of Very High. Our ESL assessment takes into account the Bank’s large size and domestic presence, its majority ownership by the…