National Bank of Fujairah's Financial Strength Ratings Raised to BBB+
Capital Intelligence (CI), the international credit rating agency, today announced that it has raised National Bank of Fujairah's financial strength ratings from 'BBB' to 'BBB+', which is supported by the bank's strengthened asset quality ratios, the increased Tier 1 capital base and overall good profitability and liquidity. CI also changed the outlook for the bank's financial strength ratings from 'Positive' to 'Stable'.
Click here to read Capital Intelligence's announcement.
Incorporated in 1982, National Bank of Fujairah PJSC (NBF) is a full services corporate bank with strong corporate and commercial banking, treasury and trade finance expertise as well as an expanding suite of personal banking options. Leveraging its deep banking experience and market insight within Fujairah and the UAE, NBF is well-positioned to build lasting relationships with its clients and help them achieve their business goals.
NBF's key shareholders include the Government of Fujairah, Easa Saleh Al Gurg Company LLC and Investment Corporation of Dubai. Rated Baa1 / Prime-2 by Moody's and BBB+ / A-2 by Standard & Poor's, both with a stable outlook, the bank is listed on the Abu Dhabi Securities Exchange under the symbol "NBF". It has a branch network of 15 across the UAE.
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