AlBaraka Islamic Bank’s Ratings Affirmed
Capital Intelligence (CI) announced Bahrain-based AlBaraka Islamic Bank (AIB)'s Long and Short-Term Foreign Currency ratings at BB+ and A3 respectively. These ratings integrate a one-notch uplift on the basis of AlBaraka Banking Group (ABG) ownership, the parent, the support level being affirmed at 2.
Although it's a small bank, AIB now requests a significant market share of Islamic banking assets in Pakistan through its recent acquisition in that country.
AIB's strenghts are liquidity and capital adequacy.