Amwal Al Ghad English - 2014-08-10 07:23:20
Capital Intelligence (CI), the international credit rating agency, has announced that Cairo-based QNB Alahli's (QNBA) (QNB AA, formerly 'Nationale Societe Generale Bank') Financial Strength Rating (FSR) is maintained at 'BBB-', notwithstanding ongoing economic pressures and the high sovereign risk related to a balance of payments and/or currency crisis.
The FSR reflects the Bank's sound risk metrics thanks to adept balance sheet management, and its ongoing strong capacity to absorb unexpected losses. The FSR is also supported by continued good loan asset quality, comfortable liquidity and customer deposit funding, sound capital adequacy, and robust profitability at both operating and net levels. In view of the Bank's continued sound risk profile and effective buffers, the Outlook for the Bank's FSR is revised to 'Stable' from 'Negative'.
QNB AA's Long- and Short-Term Foreign Currency Ratings (FCR) are maintained at 'B-' and 'B' respectively, on a 'Stable' Outlook, constrained by Egypt's Sovereign Ratings ('B-'/'B'/'Stable'). The FCRs denote significant credit risk, as the Bank's capacity for timely fulfillment of financial obligations is vulnerable to adverse changes in the operating environment and economy. More»