Tadhamon Bank – Ratings Outlook Revised to Stable

Ref: YE 0 07 21 CRA00- 01 7 March 202 3

Tadhamon Bank – Ratings Outlook Revised to Stable

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has revised the Long-Term Foreign Currency Rating (LT FCR) Outlook of Tadhamon Bank (TB) to Stable from Negative. The Bank Standalone Rating (BSR) Outlook has also been revised to Stable (previously not meaningful). T he Bank’s LT FCR and BSR of ‘C’ and ‘c ’, respectively, have been affirmed . At the same time, CI Ratings has affirmed TB’s Short Term Foreign Currency Rating (ST FCR) of ‘C’, Core Financial Strength ( CFS ) rating of ‘c+’, and ESL of Uncertain .

T he revision of the Outlook to Stable is based on TB ’s resilience over the years particularly in the face of the long-running civil war, notwithstanding some periods where the Bank has recorded small losses. The balance sheet, including the asset profile,…