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."
- Big data: the world's next big natural resource?
- Will Hezbollah sanctions have an effect Lebanon’s banking sector?
- Why Saudi's latest announcement to open up the stock market to foreign investors is a good move
- Saudi expected to emerge as seventh largest capital market and it's a very big deal!
- Time for some serious contemplation: Middle East firms face $91bn refinancing needs