Credit Rating
Rating Reports
Moody’s
Moody’s Investors Service has assigned National Bank of Fujairah (NBF) a deposit rating of Baa1/Prime-2 with a BCA (baseline credit assessment) of ba1.
NBF’s ba1 BCA reflects the bank’s (1) solid core profitability through an established corporate and business banking franchise with a niche specialisation in trade finance; (2) adequate capital buffers which reflect solid core earnings generation and retention; and (3) stable funding and liquidity through an established corporate and business banking deposit base with limited maturity transformation.
NBF’s Baa1 deposit ratings incorporate a three-notch uplift from its ba1 BCA, based on our assessment of a very high likelihood of government support, in case of need.
Standard and Poor’s (S&P)
Standard and Poor’s (S&P) has upgraded the long-term rating of NBF to ‘BBB+’ from ‘BBB’ on the basis of strong track record of local banks supported by the UAE’s Government authorities. The upgraded rating is supported by the bank’s higher profitability and strong capitalisation.
S&P also affirmed the ‘A-2’ short-term rating with a stable outlook that reflects the bank’s creditworthiness from strong capitalisation.
Capital Intelligence
International credit rating agency, Capital Intelligence, has affirmed the Group’s financial ratings as Stable, citing its good asset quality, solid capital adequacy ratio, sound profitability and good liquidity.
NBF’s long term FCR (Foreign Currency Rating) has been maintained at “A-“since 2008, reflecting the Bank’s good management, sound financials and support from the UAE government.
Relevant Links
Credit Rating Summary
| Moody's | Standard & Poor's | Capital Intelligence | |
|---|---|---|---|
| Long-Term | Baa1 | BBB+ | A- |
| Short-Term | P-2 | A-2 | A2 |
| Outlook | Stable | Stable | Stable |
| Outlook Dec 2023 | Outlook Dec 2024 | Outlook Aug 2024 |
