Latest news with #SaelAlWaary
Al Bawaba
30-05-2025
- Business
- Al Bawaba
Bank ABC secures upgrade from Fitch to investment grade rating BBB- reflecting continued strategic momentum
Bank ABC (Arab Banking Corporation B.S.C.), a leading international bank headquartered in the Kingdom of Bahrain, is extremely pleased to announce that Fitch Ratings has upgraded its Long-Term Issuer Default Rating (IDR) to 'BBB-' from 'BB+' and its Viability Rating (VR) to 'bbb-' from 'bb+', with the rating outlook as 'Stable.'Fitch has announced the rating upgrade, citing the Bank's strengthened risk profile, diversified international operations and a robust capital and liquidity position. It has also recognised Bank ABC's enhanced asset quality, prudent risk management and strategic rebalancing towards lower-risk cited the Bank's 'regional corporate franchise and wide geographical diversification' as key strengths, alongside 'well-managed market risks, adequate capitalisation, stable asset quality, funding and liquidity.' The agency also noted the improvement in the Bank's operating environment and resilience of its performance across core Fitch has reaffirmed that Bank ABC's rating is not constrained by the sovereign rating of its home market, underscoring the strength and independence of the Bank's international funding profile and offshore rating upgrade also marks the realignment of Bank ABC's ratings as investment grade across both major global agencies, with S&P also maintaining its 'BBB-' rating with Stable outlook. Commenting on the news, Sael Al Waary, Group Chief Executive Officer of Bank ABC, said: 'This upgrade is a major achievement for Bank ABC and a strong endorsement of the impact of our strategic execution and vision. It further reinforces Bank ABC's strengths, enhances access to a wider investor and funding base and reflects the competitive advantages of our international franchise. We remain committed to maintaining a strong, diversified balance sheet and creating long-term value for all our stakeholders.' © 2000 - 2025 Al Bawaba ( Signal PressWire is the world's largest independent Middle East PR distribution service.
Zawya
29-05-2025
- Business
- Zawya
Bank ABC secures upgrade from Fitch to investment grade rating BBB- reflecting continued strategic momentum
Dubai, United Arab Emirates: Bank ABC (Arab Banking Corporation B.S.C.), a leading international bank headquartered in the Kingdom of Bahrain, is extremely pleased to announce that Fitch Ratings has upgraded its Long-Term Issuer Default Rating (IDR) to 'BBB-' from 'BB+' and its Viability Rating (VR) to 'bbb-' from 'bb+', with the rating outlook as 'Stable.' Fitch has announced the rating upgrade, citing the Bank's strengthened risk profile, diversified international operations and a robust capital and liquidity position. It has also recognised Bank ABC's enhanced asset quality, prudent risk management and strategic rebalancing towards lower-risk markets. Fitch cited the Bank's 'regional corporate franchise and wide geographical diversification' as key strengths, alongside 'well-managed market risks, adequate capitalisation, stable asset quality, funding and liquidity.' The agency also noted the improvement in the Bank's operating environment and resilience of its performance across core markets. Importantly, Fitch has reaffirmed that Bank ABC's rating is not constrained by the sovereign rating of its home market, underscoring the strength and independence of the Bank's international funding profile and offshore liquidity. The rating upgrade also marks the realignment of Bank ABC's ratings as investment grade across both major global agencies, with S&P also maintaining its 'BBB-' rating with Stable outlook. Commenting on the news, Sael Al Waary, Group Chief Executive Officer of Bank ABC, said: 'This upgrade is a major achievement for Bank ABC and a strong endorsement of the impact of our strategic execution and vision. It further reinforces Bank ABC's strengths, enhances access to a wider investor and funding base and reflects the competitive advantages of our international franchise. We remain committed to maintaining a strong, diversified balance sheet and creating long-term value for all our stakeholders.' About Bank ABC Bank ABC is a leading global banking player and provides innovative wholesale financial products and services, including Capital Markets, Transaction Banking, Specialized Finance, Islamic Finance, Real Estate Finance and Financial Markets to Corporates and Financial Institutions. It also offers retail banking services through its extensive network of retail branches in Jordan, Egypt, Tunisia, and Algeria and through its digital, mobile-only ila Bank in Bahrain and Jordan. For further information, please contact Group Corporate Communications on: Media@
Zawya
29-05-2025
- Business
- Zawya
Fitch upgrades Bank ABC's long-term IDR
Bahrain - Bank ABC (Arab Banking Corporation), a leading international bank based in Bahrain, announced yesterday that Fitch Ratings has upgraded its Long-Term Issuer Default Rating (IDR) to 'BBB-' from 'BB+' and its Viability Rating (VR) to 'bbb-' from 'bb+', with a 'Stable' outlook. The upgrade means Bank ABC now holds investment grade ratings from both major global agencies, with S&P also maintaining its 'BBB-' rating with a 'Stable' outlook. Fitch cited Bank ABC's strengthened risk profile, diversified international operations, and robust capital and liquidity as key factors. The agency also highlighted the bank's prudent risk management and strategic shift toward lower-risk markets. Fitch noted the bank's 'regional corporate franchise and wide geographical diversification' as significant strengths, alongside 'well-managed market risks, adequate capitalisation, stable asset quality, funding and liquidity.' The agency also acknowledged improvements in the bank's operating environment and consistent performance across core markets. Crucially, Fitch reaffirmed that Bank ABC's rating is 'not constrained by Bahrain's sovereign rating', underscoring the strength and independence of the bank's international funding and offshore liquidity profile. Bank ABC group chief executive Sael Al Waary called the upgrade 'a major achievement for Bank ABC and a strong endorsement of our strategic execution and vision.' He added that it 'reinforces Bank ABC's strengths, enhances access to a wider investor and funding base, and reflects the competitive advantages of our international franchise.' Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Al Bawaba
27-02-2025
- Business
- Al Bawaba
Bank ABC announces its Sustainable Finance Framework advancing its Sustainability Strategy
Bank ABC is proud to announce the launch of its Sustainable Finance Framework (the 'Framework'), a comprehensive guide outlining the Bank's approach and methodology for Sustainable Finance. The Framework establishes clear eligibility criteria for green, social, sustainable, sustainability-linked and transition finance projects, ensuring alignment with the Group's broader Sustainability Strategy. Bank ABC's Group CEO, Sael Al Waary, commented: 'The banking industry plays a central role in facilitating the transition towards a more sustainable global economy. At Bank ABC, we have embedded sustainability at the core of our strategy, and Sustainable Finance is a key pillar of this commitment. The launch of our Sustainable Finance Framework marks another key step in our journey, enabling us to continue to support our clients to achieve their sustainability goals.'Developed in line with global best practices, the Framework sets out the environmental and social metrics that financing activities must meet to be classified as sustainable by Bank ABC. As part of our commitment to good governance and transparency, Bank ABC obtained a Second Party Opinion (SPO) and External Review from ISS-Corporate, a leading global SPO provider. ISS-Corporate validated that our Framework is fully aligned with the International Capital Market Association's (ICMA) Green Bond Principles (GBP), Social Bond Principles (SBP), Sustainability Bond Guidelines (SBG), the Loan Market Association (LMA) Green Loan Principles (GLP) and Social Loan Principles (SLP) and contributes to the achievement of the UN Framework will be periodically reviewed in line with market practice, and the Bank intends to provide annual impact reporting, which will be published on its website. Bank ABC's Sustainability Finance Framework can be accessed independent Second Party Opinion and External Review, conducted by ISS-Corporate, is available here. © 2000 - 2025 Al Bawaba ( Signal PressWire is the world's largest independent Middle East PR distribution service.
Trade Arabia
26-02-2025
- Business
- Trade Arabia
Bank ABC announces its Sustainable Finance Framework
Bank ABC has announced the launch of its Sustainable Finance Framework, a comprehensive guide outlining the bank's approach and methodology for sustainable finance. The framework establishes clear eligibility criteria for green, social, sustainable, sustainability-linked and transition finance projects, ensuring alignment with the group's broader sustainability strategy. Bank ABC's Group CEO, Sael Al Waary, commented: 'The banking industry plays a central role in facilitating the transition towards a more sustainable global economy. At Bank ABC, we have embedded sustainability at the core of our strategy, and sustainable finance is a key pillar of this commitment. The launch of our Sustainable Finance Framework marks another key step in our journey, enabling us to continue to support our clients to achieve their sustainability goals.' Developed in line with global best practices, the framework sets out the environmental and social metrics that financing activities must meet to be classified as sustainable by Bank ABC. As part of its commitment to good governance and transparency, Bank ABC obtained a second party opinion (SPO) and external review from ISS-Corporate, a leading global SPO provider. ISS-Corporate validated that the framework is fully aligned with the International Capital Market Association's (ICMA) Green Bond Principles (GBP), Social Bond Principles (SBP), Sustainability Bond Guidelines (SBG), the Loan Market Association (LMA) Green Loan Principles (GLP) and Social Loan Principles (SLP) and contributes to the achievement of the UN SDGs, the bank said.
