Fitch affirms Commercial Bank's rating at ‘A' with stable outlook
Tribune News Network
Doha
In a significant vote of confidence, Fitch Ratings has affirmed Commercial Bank's long-term issuer default rating (IDR) at 'A' with a stable outlook, reinforcing the bank's position as one of Qatar's most resilient and well-managed financial institutions. The agency has also affirmed the bank's viability rating (VR) at 'bb+'.
The rating reflects the potential support Commercial Bank could receive from the Qatari authorities, as evidenced by its government support rating of 'a'. The stable outlook aligns with that of the Qatari sovereign rating (AA/stable), further affirming the strength of the country's financial system.
According to Fitch, Commercial Bank's rating is underpinned by a stable domestic operating environment, a strong and established domestic franchise, and steadily improving profitability.
Commenting on the reaffirmation, Commercial Bank Group Chief Executive Officer Joseph Abraham said, 'We are pleased with the reaffirmation of our rating and stable outlook, which reflect our strong execution of our strategic focus, robust franchise, and resilience.'
With Fitch's endorsement in place, Commercial Bank continues to enjoy strong credit ratings across major global rating agencies. The bank is rated A2 by Moody's and A- by Standard & Poor's, both carrying a stable outlook—highlighting consistent recognition of the bank's financial strength and strategic direction.
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