CI retains Finance House credit ratings; outlook ‘Stable’

The ratings indicate the company’s strong capital base

  
Image used for illustrative purpose. Abu Dhabi UAE United Arab Emirates desert sea sky Ground Building Construction Oasis Oil City Center Hot Amazing Beautiful Clouds Cranes.

Image used for illustrative purpose. Abu Dhabi UAE United Arab Emirates desert sea sky Ground Building Construction Oasis Oil City Center Hot Amazing Beautiful Clouds Cranes.

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Abu Dhabi – Finance House, an Abu Dhabi-headquartered finance company, announced that Capital Intelligence (CI) has maintained its reaffirmed short term and long-term credit ratings at ‘A3’ and ‘BBB’, respectively, with a ‘Stable’ outlook.

The ratings indicate the company’s strong capital base, good capital ratios, satisfactory asset quality, and good liquidity ratios resulted from a strong deposit base, according to a statement to the Abu Dhabi Securities Exchange (ADX) on Sunday.

Chairman of Finance House, Mohammed Abdulla Alqubaisi, commented: "Our organisational success stems from our goal-oriented employees, who portray a professional corporate image to create loyal customers and increase shareholders’ value. Eventually, they propel the organisation forward with strong business results that help us to maintain our investment grade credit ratings."

Meanwhile, group chief financial officer, T.K. Raman, referred: “This independent credit rating exercise is a vindication of our sound strategy execution capabilities, even under challenging economic conditions. We are optimistic of sustained profitable growth in 2020 and beyond.”

Source: Mubasher

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