Download PDF
Click the icon to download

Content is restricted

Summary

Ref: AE01223PBK00-01 08 November 2023

Ref: AE0122 3 PBK 00-0 1 8 Nov ember 202 3

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 O utlook for the LT FCR and BSR is Stable. At the same time, CI Ratings has affirmed IB’s Bank Standalone Rating (BSR) of ‘bb-’, Core Financial Strength (CFS) rating of ‘b’, and Extraordinary Support Level (ESL) of High.

The affirmation of the ratings is underpinned by the recent increase in capital which led to a substantial rise in the government of Sharjah’s ( GoS ) shareholding and pushed key capital ratios well above the regulatory minima , as well as a GoS guarantee covering future losses arising from the legacy portfolio and other assets.

IB’s LT FCR, at three notches above the BSR,…