Abu Dhabi – Mubasher: Capital Intelligence Ratings (CI Ratings) has affirmed Sharjah Islamic Bank's (SIB) long-term foreign currency rating (LT FCR) and short-term foreign currency rating (ST FCR) at 'A-' and 'A2', respectively, with a stable outlook for LT FCR.

CI Ratings has also affirmed SIB's Bank Standalone Rating (BSR) of 'bbb-', Core Financial Strength (CFS) rating of 'bb+', and Extraordinary Support Level (ESL) of High, according to a recent press release.

It is noteworthy to mention that during the first quarter (Q1) of 2021, the bank reported a 6.8% rise in net profits attributable to the shareholders to AED 164.2 million, compared to AED 153.7 million in the same quarter of 2020.