Dinar Daily
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Get Daily Updates of the NEWS & GURUS in your EMAIL
CHECK YOUR EMAIL for VERIFICATION

Enter your email address:

 Capital Intelligence gives the International Development Bank a B-class global credit rating, similar to Arab and regional banks DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Capital Intelligence gives the International Development Bank a B-class global credit rating, similar to Arab and regional banks

Go down

 Capital Intelligence gives the International Development Bank a B-class global credit rating, similar to Arab and regional banks Empty Capital Intelligence gives the International Development Bank a B-class global credit rating, similar to Arab and regional banks

Post by claud39 on Fri May 22, 2020 1:49 pm

 Capital Intelligence gives the International Development Bank a B-class global credit rating, similar to Arab and regional banks




05/22/2020





 Capital Intelligence gives the International Development Bank a B-class global credit rating, similar to Arab and regional banks 20958

Economy News - Baghdad:
 
The International Capital Intelligence Agency gave credit ratings to the International Development Bank for Investment and Finance of Iraq for the first time. The classification obtained by the bank is very good and in light of the economic conditions that Iraq is going through, where the classification came in the same way as the rating assigned to giant Arab and regional banks.
 
Capital Intelligence Ratings announced today that it has defined the long-term foreign currency rating and short-term foreign currency classification of the bank for the first time for the International Development and Investment Bank at “B-” and “B” respectively, with a stable outlook for the rating. The long-term. And at the same time, I set out
The company for the International Development Bank rated the independent bank and is linked to the sovereign rating of Iraq and the operational environment at "B-" with a stable outlook, the basic financial strength rating at "BB-", and an exceptional level of support at the degree of "uncertain".
 
Capital Intelligence has also assigned the International Development Bank long-term and short-term ratings on the Iraqi national scale at "iqBBB +" and "iqA2", respectively, with a stable outlook.
 
Capital Intelligence revealed that the bank’s good credit rating came in the presence of high capital for the bank and levels of liquidity are constantly rising as the ratio of net loans to total assets is moderate due to the bank’s prudent lending policy, in addition to that the bank achieved very high rates in Financial solvency and liquidity As at the end of 2019 where the capital adequacy ratios (CAR) and according to Basel III requirements reached (35)% and exceeding the global requirements (12%) as a minimum, this has been the liquidity coverage ratios (LCR) (164%) And exceeding the minimum global requirements (100%).
 
The report emphasized the bank's ability to achieve exceptional growth rates in the financial position and assets where the achieved levels and as at the end of 2019 are much higher than the average assets of Iraqi private banks and despite the economic and security conditions that Iraq has witnessed. The bank also succeeded in increasing customer deposits and total financing levels to a much higher level than the average of other Iraqi banks, as this increase was mainly due to the increase in customer deposits in the retail sector. The composition of the bank's current deposits and after the bank succeeded in achieving great stability in these deposits in addition to the size of the bank's reserves of liquid assets confirms that the liquidity risk in the bank is very low.
 
The agency also stressed that non-performing loan levels are still low and less than the levels in the rest of the Iraqi banks, and that the expected changes in the Iraqi market with expectations that the growth of GDP in the current year will be affected negatively by the decrease in domestic and external demand due to the dual impact of the Corona epidemic, and the decline in oil prices Sharply, it will not significantly affect the bank's credit risk due to the conservative lending and credit policy approved by the bank’s board of directors.
 
The agency also stressed the ability of the bank’s board of directors and its executive management to adopt comprehensive and conservative banking strategies and policies that contributed to achieving the bank’s exceptional growth in the size of banking assets and operations and despite the significant economic challenges that Iraq has experienced since 2014 until today, as the bank has made huge investment in The technological structure of information technology and electronic banking services, which contributed to the bank's acquisition of a large market share in the Iraqi market, especially in the aspect of Emiratization for the public sector and electronic services. The bank also succeeded in providing advanced banking services to individuals and companies sectors, which directly contributed to the economic development process in Iraq.
 
It is important to point out here that this credit rating of the bank, which is an important achievement and achievement at the level of the Iraqi banking sector, translates successive banking successes, which became apparent to Arab and regional banks that were established decades ago, knowing that the International Development Bank was established at the end of 2011. Note that the Capital Intelligence Agency It is one of the largest international credit rating companies, especially in the world of finance and the economy. The company operates in more than 30 countries in the world and has specialized in credit rating and since 1982.
 


claud39
claud39
VIP NewsHound
VIP NewsHound

Posts : 16596
Join date : 2018-11-04

View user profile

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum