Emirates NBD – Ratings Affirmed with a Stable Outlook

Ref: AE0 31 2 1 CRA00- 0 1 5 October 2022

Emirates NBD – Ratings Affirmed with a Stable Outlook

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 major domestic presence, its majority…