Mubasher: Islamic International Rating Agency (IIRA) has reaffirmed the ratings Arab Banking Corporation (Bank ABC) at “A- / A2 (Single A Minus /A Two)” on the international scale and at “A+(bh) / A1(bh)” on the national scale, with a ‘Stable’ outlook.

IIRA said that its assessment on the bank’s overall fiduciary score lies in the range of ‘76 – 80’, which represents strong fiduciary standards with a well-developed governance structure, wherein the rights of various stakeholders are considered to be well protected, according to a statement.

The ratings on ABC primarily reflect the bank’s ability to consistently improve its profitability and maintain its asset quality indicators amidst tough macroeconomic environment in its core markets, particularly in the GCC, IIRA added.