Cbi bank stock pro hosting drivers#
Have plug-in hybrids run their race? Electric car expert FIONA HOWARTH says drivers should go straight for 100% battery models - here's why.PROPERTY CLINIC: Can I stop my neighbour building against my wall and hitting my home's value by turning it into a mid-terrace?.State pension betrayal must not happen again, warns ROS ALTMANN as mooted £1k-a-year rise for pensioners sparks row.Driven by the growth of its wholesale and Islamic banking businesses, and an increase in customer deposits, CBI's first half net profit increased to AED 68.7 million. In-spite of a challenging macro-economic environment, CBI has performed well throughout 2016. The substantial business support extended by its major shareholder, QNB, as well as the Bank's strong fee and commission income base are other factors supporting the rating upgrade.'Īdditionally, the Financial Strength Rating of CBI has been upgraded to 'BBB-' from 'BB' with a 'Stable' outlook
Cbi bank stock pro hosting upgrade#
The rating upgrade to 'A-' by Capital Intelligence Ratings, in conjunction with Fitch Ratings' 'A-' earlier in the year, are a testament to not only the success of our strategy to-date, but also to the bank's robust fundamentals.'Īccording to CI, CBI 'is well-placed to grow its business by leveraging its close connections with Qatar National Bank (QNB) and is therefore in an advantageous position in the domestic market vis-à-vis other banks of similar size.
Mark Robinson, Chief Executive Officer of CBI, said: 'Over the past year, CBI has focused on strengthening its balance sheet by divesting non-core assets and reducing non-performing loans. The rating upgrade was driven by CBI's continuously improving asset quality and robust capital position, in addition to the strong backing it receives from its largest shareholder, Qatar National BankĬBI's improved rating follows the investment grade rating it received earlier this year from Fitch Ratings, which assigned the Dubai-based bank a long-term issuer default rating of 'A-'.
CBI's Short-Term Foreign Currency Rating was also upgraded to 'A3' from 'B'.
The Long-Term Foreign Currency Rating of the UAE's Commercial Bank International (CBI) has been upgraded by five rating tiers to 'A-' from 'BB', by Capital Intelligence Ratings (CI), the international credit rating agency.
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