Mashreqbank’s FSR and Long-Term FCR Raised to ‘A’; ‘Stable’ Outlook Maintained

Overview

Capital Intelligence Ratings (CI Ratings or CI), the international credit rating agency, today announced that it has raised Mashreqbank's (MB) Financial Strength Rating (FSR) to 'A' from 'A-'. The Long-Term Foreign Currency Rating (FCR) is also raised to 'A' from 'A-', while the Short-Term FCR of 'A1' is affirmed. The upward revision in the ratings is underpinned by the Bank's long track record of maintaining solid financial fundamentals, which CI Ratings believes the Bank would be able to sustain over the long term. Good asset quality, in particular the improved provision coverage ratio in Q1 2018, solid CET 1 ratio and a high capital base, along with very comfortable liquidity and good profitability underpin the ratings.

Attachments

• View Credit Rating Announcement (CRA)
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• Bank Rating Report (UAE, Mashreqbank psc)
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