The ratings of Bahrain Islamic Bank, as per Anouar Hassoune, the Lead Analyst, Moody's Investors Services, remain unchanged with Baa1 long-term and prime-2 short-term local and foreign currency issuer ratings and a D+ bank financial strength rating (BFSR). The rating outlook is stable.
'Moody's recognises that BIsB has demonstrated its capacity to weather the current financial stress, especially by maintaining ample asset liquidity cushions,' Mr Hassoune said.
'While expressing satisfaction at the unchanged ratings, we strive to maintain and improve the investment grade rating by focusing on asset quality and diversifying the product profile of the bank by building and strengthening our Retail and SME portfolio', said BisB Chief Executive Officer Mohammed Epahim.
'Our capital adequacy continues to give comfort to our stakeholders in addition to the strong and diversified business model. The unchanged rating for BisB is also a clear confidence in the bank capabilities going forward', said the Chairman of the Bank Khalid Al Bassam."
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© press Release 2010
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