Bank AlJazira rating affirmed by Capital Intelligence

Bank AlJazira (BAJ) announced today that its ratings have been affirmed by international credit rating agency Capital Intelligence, demonstrating the strength of the bank’s underlying business model.   

BAJ’s Financial Strength Rating (FSR) has been affirmed at “BBB” with a stable outlook. The bank’s Long-Term Foreign Currency Rating (FCR) has been affirmed at “BBB+” and its Short-Term Foreign Currency Rating at “A2.” 

In explaining its ratings, Capital Intelligence noted BAJ’s sound liquidity, strong customer deposit growth and improved profitability. The ratings agency also highlighted the benefits of a reviving equity market to BAJ’s business.    

Commenting on the ratings affirmation, Mr. Nabil AlHoshan CEO and Managing Director  of Bank AlJazira, said: “We are pleased that our strong underlying fundamentals have been recognised with this affirmation from Capital Intelligence. Bank AlJazira is on a journey to improve its products and services, enhance its capital position and build value for shareholders. The Capital Intelligence affirmation is further testament to this strategy and a clear demonstration of our ability to delivery upon it.”