TAIB Bank ratings affirmed at BBB-

DUBAI — Capital Intelligence (CI) announced that the foreign currency long-term and financial strength ratings for Bahrain-based TAIB Bank (BSC) had been affirmed at BBB-. The foreign currency short-term rating is also maintained at A3. The foreign currency ratings carry a positive outlook in view of the imminent change in ownership. Dubai Financial, part of the government Dubai

By A Staff Reporter

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Published: Fri 27 Jul 2007, 9:59 AM

Last updated: Sat 4 Apr 2015, 10:23 PM

Investment Group, recently announced it had agreed to acquire a controlling 60 per cent stake in TAIB, subject to regulatory approval. The positive outlook underscores the strength and resources of Dubai Financial.

Having successfully completed the transition to a fully-fledged private bank a few years ago, TAIB Bank produced exceptionally strong results in the year under review reflecting the niche market it has carved out for itself. Currently, the overall risk profile has improved noticeably. Although TAIB remains a small bank as measured by both total assets and capital, the franchise and expertise continue to grow with focus on the US, UK and Indian markets, and the operations in Turkey and Kazakhstan. Overall asset quality is sound and concentration risk has significantly reduced in recent years. Moreover, the asset base remains highly liquid reflecting the large pool of bank placements.

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