CI upgrades ratings of Shamil Bank

ABU DHABI - Capital Intelligence has raised both the long-term foreign currency rating and financial strength rating of Bahrain’s Shamil Bank of Bahrain (SBB) to BBB- (triple B minus) from BB+ (double B plus).

By A Staff Reporter

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Published: Fri 17 Sep 2004, 11:32 AM

Last updated: Thu 2 Apr 2015, 12:51 PM

The short-term foreign currency rating of A3 (A three) and support rating of 2 were maintained while a stable outlook was assigned to all the ratings.

The new ratings are: Foreign Currency: L/T: BBB– S/T: A3 Financial Strength: BBB– Support: 2 Outlook: Stable.

The agency stated that the move is prompted by the strong growth in profitability and continuing reduction in non-performing financing (NPF).

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