Tadhamon Bank – Ratings Affirmed

17 February 2026

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term (ST) FCR of Tadhamon Bank (TB) at ‘C-’ and ‘C’, respectively. CI Ratings has also affirmed TB’s Bank Standalone Rating (BSR) of ‘c’, Core Financial Strength (CFS) rating of ‘c+’, and Extraordinary Support Level (ESL) of Uncertain. The Outlook for the LT FCR and BSR remains Stable.

TB’s FCRs remain constrained by significant operating environment challenges, including elevated sovereign, political and economic risk. Yemen has experienced a continued deterioration in its shock absorption capacity, due to persistent current account deficits, depleted reserves and absence of access to external financing. The sovereign has very weak public finances and large dependence on grants from donors and international organisations, as well as the accumulated arrears to international organisations….