Key ABC Islamic Bank ratings are reaffirmed

The Islamic International Rating Agency (IIRA) has reaffirmed the ratings of Bahrain-based ABC Islamic Bank at A+/A-1 on the national scale (long-term and short-term respectively), and A-/A-2 on the international scale with a 'Stable' outlook. The ratings agency said the overall fiduciary score of the bank has been assessed to be in the range of '76'“80' and indicates a well developed governance structure and strong fiduciary capacity, wherein rights of various stakeholders are well-protected. As the bank's business prospects continue to improve, enhancement in earnings is likely to be sustainable, the IIRA said. The bank's balance sheet has remained strong, sustained by sound capitalisation related indicators, it added.