Capital Intelligence (CI), the international credit rating agency, announced that it has raised Boubyan Bank's financial strength rating (FSR) to BBB+ from BBB.

CI noted that the upgrade in the bank's FSR is supported in particular by the improved non-performing Islamic financing facilities (NPIFF) ratio and enhanced Islamic financing facilities loss reserve (IFF-LR) coverage, by the strong capital base and ratios, and by the much-improved profitability at the net level.