Invest Bank’s Ratings Affirmed

Ref: AE012 2 1 CRA00- 02 2 7 October 20 2 2

Invest Bank’s Ratings Affirmed

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 Invest Bank (IB) at ‘BBB-’ and ‘A3’ , respectively. The Outlook for the LT FCR and ST FCR is Stable . At the same time, CI Ratings has affirmed IB’s Bank Standalone Rating (BSR) of ‘bb-’, Core Financial Strength rating of ‘b’ , and Extraordinary Support Level (ESL) of High.

IB’s LT FCR is set three notches above the BSR to reflect the high likelihood of assistance from the UAE government (sovereign ratings: ‘AA-’/‘A1+’/Stable) on the grounds of demonstrated support for the banking sector in times of need. While there has been an acute delay in IB’s recapitalisation, partly due to the pandemic, we understand that the …