The international credit rating agency, Fitch Ratings, has affirmed National Bank of Bahrain's (NBB) Long-term Issuer Default Rating (IDR) at 'BBB' and Viability Rating at 'bbb'. The outlook for NBB's Long-term IDR is stable.
The Bank's Chief Executive Officer and Director, Mr. Abdul Razak Abdulla Hassan Al Qassim expressed his satisfaction on the affirmation of the Bank's ratings by Fitch which is the result of its leading domestic franchise, consistent profitability, healthy asset quality, sound liquidity and strong capitalization. Mr. Al Qassim added, "The affirmation of our ratings is a clear expression of confidence by the international rating agency in Bahrain's economy and the banking sector in general and an endorsement of our business strategies in particular in these difficult times."
National Bank of Bahrain is the country's leading provider of commercial and retail banking services with the largest banking network extending to 25 branches and 59 ATMs. The Bank has been operating a branch in Abu Dhabi since 1983 while the Riyadh branch started its operations in 2008.
© Press Release 2013
