Register | Forgot password?
Switch to Arabic
Thursday, December 3 - 2009

S&P reaffirms Arab Banking Corporation's ratings

Arab Banking Corporation announces that Standard & Poor's (S&P), the international rating agency, has reaffirmed its counterparty credit ratings at BBB+/Stable/A-2.

Article continues below
 
S&P said that the ratings reflect the group's strong wholesale customer franchise in the Arab world, high support from principal shareholders, good loan quality, and reduced market risk.

Mr. Hassan Juma, President & Chief Executive, commented:
"We are pleased with S&P's reaffirmation of ABC's ratings. Our bank has demonstrated the resilience of its core earnings stream and the growth of our retail activities despite adverse credit and interbank market conditions and the global economic downturn. Despite these ongoing challenges our strategy is showing good results as demonstrated by ABC's return to profit in the first quarter of 2009."
Also consider reading:
Log in to request more information from Arab Banking Corp (ABC)

Disclaimer:

Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com

Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.

For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions