Rating agency Capital Intelligence (CI) has maintained its financial strength rating (FSR) for the National Bank of Ras Al Khaimah (RAKBank) at BBB+ with the outlook ‘Stable’ as the Bank enjoys good management, high profitability, strong retail banking franchise and very high capital adequacy ratio (CAR).

In its report published on its official website, CI noted that the Bank also has low non-performing loans (NPLs) that the loan-loss reserve coverage ratio is strengthening.

In view of the improving liquidity ratios and strengthening loan-loss reserve coverage ratio, the Outlook for the FSR has changed to 'Positive' from 'Stable', the report highlighted, affirming that RAKBank’s long-term and short-term foreign currency are affirmed at 'A-' and 'A2', respectively. The Bank's good financials and management and the strong likelihood of support from the UAE authorities underpin these ratings. The Outlook for the FC ratings is 'Stable', it added.