Capital Intelligence affirms NBB rating; outlook stable

Capital Intelligence affirms NBB rating; outlook stable
(Photo credit: National Bank of Bahrain's website)
NBB NBB 1.67% 0.61 0.01

Mubasher: Credit ratings agency Capital Intelligence has confirmed its rating for the National Bank of Bahrain's (NBB) long-and-short-term currency ratings at BB+ and B, respectively.

"These ratings are constrained by CI's sovereign ratings for Bahrain ('BB+'/'B'/'Stable')," the international ratings agency said in a statement released Wednesday.

NBB's financial strength rating (FSR) was affirmed at 'BBB+' owing to the "solid capital adequacy, high liquidity and strong customer deposit funding, established business franchise and good profitability metrics," Capital Intelligence added.

NBB recently reported a 17% profit decline to BHD 14.74 million in the first quarter of 2017, compared to BHD 17.76 million in the corresponding period of 2016.

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Source: Mubasher