United Arab Bank – Outlook Revised to Stable; All Other Ratings Affirmed
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Ref: AE020 21 CRA 00- 0 1 1 July 202 2
United Arab Bank – Outlook Revised to Stable; All Other Ratings Affirmed
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has revised the Outlook for the Long-Term Foreign Currency Rating (LT FCR) and Bank Standalone Rating (BSR) of United Arab Bank (UAB) to Stable from Negative. At the same time , CI Ratings has affirmed the Bank’s LT FCR and S hort- T erm Foreign Currency Rating (ST FCR ) of ‘BBB’ and ‘A2’, respectively . UAB’s BSR of ‘bb+’, Core Financial Strength ( CFS ) rating of ‘bb-’ and Extraordinary Support Level (ESL) of High have also been affirmed .
The revision of the Outlook is driven by positive changes in the Bank’s financial fundamentals, particularly the decline in NPLs and Stage 2 loans, improving operating profitability and ROAA , and higher capital ratios in Q1 22. UAB’s…