Abu Dhabi Commercial Bank (ADCB) said that S&P Global Ratings has improved its long -term emitter credit rating to ‘A+’ from ‘A’ with a stable ‘perspective.
The update is promoted by the strong financial position of the bank and the high quality of assets, he said.
The update places ADCB among the three banks best qualified by S&P in the Mena region, the bank said.
The solid market position of ADCB promotes a significant general balance expansion
In an investigation update, S&P said that the generation of solid profits and the high capital retention still support the capitalization of ADCB, which considers a key rating force.
“We believe that the quality of the bank’s assets will continue to benefit from the strengthening of their risk management culture and control framework in the last four years,” said the qualification agency.
S&P said that you see these improvements, along with a more content appetite, such as durable and, therefore, position ADCB to better navigate economic cycles.
ADCB said its high investment grade ratings support a favorable capital cost, since it implements a new strategy to maintain its growth rate, with a net objective or a duplicate gain to 20 billion AED in five years.
