Al Khalij Commercial Bank (Al Khaliji) on Tuesday disclosed that the global credit rating agencies Fitch and Moody’s have affirmed its ratings as 'A' and 'A3/Prime-2' respectively, both with “stable” outlook.
Fitch defines those entities within 'A' rating as exhibiting adequate assets quality, improving profitability and low default risk. The bank's short term IDR rating has also been affirmed at 'F1'.
Moody’s has also affirmed the banks ratings as 'A3/Prime-2' for deposit with a ‘stable’ outlook that reflects bank's “good asset quality, solid capitalisation, and strong liquidity.
The bank "has successfully navigated though the challenges of the Covid-19 pandemic with a strong capital base, good liquidity, prudent provisioning and efficient control of costs", according to its group chief executive Fahad al- Khalifa.
He said the strategy has always been to achieve an appropriate balance between risks and return for all stakeholders, which has been possible due to a strong Qatari economy and a very well-regulated financial sector.