Standard and Poor’s Affirms High Ratings for Arab Bank Group
Standard and Poor's, the international credit rating agency has affirmed on December 22, 2010, the ratings of Arab Bank Group at "A-" with "STABLE" outlook.
The ratings reflect Arab Bank's strong financial strength, high asset quality and robust capitalization as represented by its high capital adequacy ratios that exceed the requirements set by regulatory authorities. The ratings further reflect the bank's conservative approach in managing risks, and its prudent balance sheet management and liquidity.
Mr. Abdel Hamid Shoman, Executive Chairman of Arab Bank stated that the affirmation of the distinguished ratings, notwithstanding the global financial crises, reflects the Bank's sound banking strategies and the confidence of the rating agencies."
- First banks, now companies: Gulf firms 'go Islamic'
- No where to hide: Israel, UK ally against tax evasion epidemic
- Nasdaq-style crisis: is the Saudi stock market not ready to come out yet?
- Panic sell-offs: Gulf markets slide after U.S. oil hits six-year low
- What will it take for Egypt to get the $300 billion it wants?