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Capital Intelligence affirms Finance House's ratings; outlook stable

Capital Intelligence affirms Finance House's ratings; outlook stable
The ratings are driven by a strong capital base
Finance House
FH
5.00% 2.10 0.10

Abu Dhabi – Mubasher: Capital Intelligence (CI) has affirmed Finance House's short-term and long-term foreign currency rating (STFCR) at 'A3' and 'BBB-', with a stable outlook.

The ratings are driven by a strong capital base and satisfactory capital and good liquidity ratios that result from a strong deposit rate which continues to largely fund the loan portfolio, according to a press release on Sunday.

The Founder of Finance House, Mohammed Abdulla Alqubaisi, commented: "The independent confirmation is continuous proof of our business model's resilience and execution capabilities that have yielded consistent results, despite the ongoing challenges of our business environment and economic conditions."

Meanwhile, the company's CEO, T.K. Raman, said: "Over the past 12 months, Finance House's experienced senior management team created and implemented targeted business strategies with clear policies and procedures covering all major business segments of the FH Group."

It is noteworthy to mention that during the first nine months of 2021, the company's net profits attributable to the shareholders decreased to AED 14.155 million from AED 16.231 million in the same period of 2020.