Mubasher: Moody's Investors Service has affirmed the long-term deposits rating of Boubyan Bank at “A3”, with a “Stable” outlook.

Meanwhile, the rating agency affirmed the bank’s short-term deposits at “P-2”, with the credit rating maintained at “Ba1”, according to a bourse statement issued on Tuesday.

These ratings reflect the bank’s growing share of 10% in the local market in the first half of 2017, boosting its financial and strategic position.

Boubyan’s profitability is forecast to remain stable due to higher operating revenues, the bank said in the statement.