Oman Arab Bank ’s LT FCR and BSR Raised due to Improving Sovereign and Operating Environment Risk

Ref: OM007 2 4 PBK 00- 0 1 28 March 202 4

Oman Arab Bank ’s LT FCR and BSR Raised due to Improving Sovereign and Operating Environment Risk

Capital Intelligence Ratings (CI Ratings or CI) today announced that i t has raised Oman Arab Bank’s (OAB) Long-Term Foreign Currency Rating (LT FCR) to ‘BB+’ from ‘BB’ and the Bank Standalone Rating (BSR) to ‘bb+’ from ‘bb’ . The Outlook for the LT FCR and BSR has been revised to Stable from Positive. Th ese changes follow CI Ratings’ one notch increase in the Operating Environment Risk Anchor (OPERA) to ‘bb’ from ‘bb -’ and also take into account the recent upgrade of Oman’s sovereign rating to ‘BB+’ from ‘BB’. The Bank’s Short-Term FCR (ST FCR) of ‘B’, Core Financial Strength (CFS) rating of ‘bbb- ’ and Extraordinary Support Level (ESL) of Moderate have been affirmed .

As OAB ’s BSR is at the same level as …