MOODY’S AFFIRMS KHALEEJI COMMERCIAL BANK’S RAITING AT ‘Ba2 (cr)’
Manama, Kingdom of Bahrain, 11th December 2016: Khaleeji Commercial Bank (KHCB), one of Bahrain's leading Islamic banks, recently announced that Moody’s, an international bond credit rating business, has confirmed its rating of the bank’s long-term counterparty risk assessment at a rate of ‘Ba2 (cr)’.
The report indicated that this rating was driven by the bank’s improved profitability standards and stable balance sheet, supported by adequate capital and healthy liquidity levels, which contributed to strengthening the bank’s financial performance, in turn strengthening the bank’s long-term credit risk.
On this occasion, Mr. Khalil Ismail Meer, Chief Executive Officer of KHCB said: "We are delighted to be awarded this distinguished international rating. This rating places us in leading positions amongst the ranks of the banks in Bahrain. It reflects our success in skillfully implementing our strategy according to thoroughly studied and strategised plans and clear objectives based on our careful reading of market conditions and constantly reviewing of our performance."
Furthermore, Mr. Meer added, "We are working to strengthen our balance sheet by improving the performance of the bank’s assets and the development of our banking products, with a focus on the quality of services provided to our highly esteemed and trusted clients. The consequent improvement in profitability rates will ultimately lead to the improving of the bank’s rating in the future.”
Headquartered in the Kingdom of Bahrain, KHCB is a fast growing Islamic retail bank that endeavors to achieve its vision of be a leading domestic and regional Islamic Bank, providing a comprehensive range of high quality Shari'a compliant banking services and solutions to their customers and corporate clients.