National Bank of Umm Al Qaiwain’s Ratings Affirmed with Stable Outlook

Ref: AE018 19 CRA 00- 0 1 2 4 Sep tember 2020

National Bank of Umm Al Qaiwain’s Ratings Affirmed with Stable Outlook

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 National Bank of Umm Al Qai wain (NBQ) at ‘A-’ and ‘A2 ’ , respectively. At the same time, CI Ratings has affirmed NBQ’s Ban k Standalone Rating (BSR) of ‘bbb’, Core Financial Strength (CFS) rating of ‘bbb-’ and Extraordinary Support Level (ESL) of High. The Outlook for the ratings remains Stable .

NBQ’s LT FCR of ‘A-’ is set two notches higher than its BSR of ‘bbb’ and reflects the Bank’s ESL of High . CI expects the Bank to receive extraordinary support from the UAE government in case of need. The UAE government (sovereign ratings: ‘AA-’/‘A1+’/Stable) has demonstrated such…