Islamic Corp. for the Dev. of the Priv. Sec. -- Moody's - ICD's credit profile reflects its robust capital position, strong liquidity balanced against weak asset quality
According to Moody’s Investors Service, the Islamic Corporation for the Development of the Private Sector’s credit strengths lie within its robust liquidity buffer and high quality treasury portfolio. While ICD remained lossmaking in 2019, the size of the losses narrowed significantly, and capital adequacy was supported by ongoing payments from shareholders under the second general capital increase. Moody’s analyst Thaddeus Best expects that the ICD will temper its balance sheet expansion in order to preserve capital. It is anticipated that the bank’s increased focus on term lending operations will help ease credit risk over the coming years.
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