First Abu Dhabi Bank maintained its position as the highest-rated banking group in the Middle East and North Africa region, and one of the highest-rated banks globally.
This came after Moody's, Standard & Poor's Global Ratings and Fitch Ratings affirmed its credit ratings at AA- or equivalent, with a stable outlook.
In a press release issued today, the bank explained that these ratings reflect the strength of its financial position and the quality of its assets, the strength of its capital base and liquidity, along with its disciplined risk management and its systemic importance within the banking sector in the UAE, which places it among the highest global banks in terms of creditworthiness.
The confirmation of the ratings comes amid global economic changes, reflecting the bank’s ability to maintain the strength of its financial performance and the continued robustness of its capital, liquidity, asset quality and profitability indicators.
The statement noted that the stable outlook given by the three rating agencies reflects their confidence in the bank’s ability to maintain its strong financial position and achieve sustainable performance across different economic cycles.
He added that First Abu Dhabi Bank’s credit strength is also based on its leadership in the UAE market, the diversity of its funding sources, and its close relationships with sovereign entities, as it is the main banking partner of the Abu Dhabi government and a number of government agencies and government-related companies.
The bank affirmed that this position enhances its ability to access global financing markets, supported by a broad and diverse base of international investors, as its issuances witnessed subscription levels that exceeded supply, while it succeeded in raising financings exceeding 22 billion dirhams, about 6 billion dollars, since the beginning of the year until now.
