Moody’s affirms KHCB’s long-term Ba2 (cr) rating

Manama : Khaleeji Commercial Bank’s long-term counterparty risk assessment of ‘Ba2 (cr)’ has been confirmed by Moody’s, KHCB said in a statement.

The report indicated that the 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 the occasion, Khalil Ismail Meer, Chief Executive Officer of KHCB said: “We are delighted to be awarded with this distinguished international rating. This rating places us in leading positions amongst the ranks of the banks in Bahrain. It reflects our success in skilfully 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, 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.”