Credit rating agency Capital Intelligence (CI) has raised Ahlibank Qatar's long term foreign currency rating (FCR) to 'A' from 'A-', while affirming the short term FCR at 'A2'. The bank's financial strength rating has been upgraded to 'A-' from 'BBB+' and support rating to '1' from '2'. The rating agency particularly cited Ahlibank's solid capital adequacy, sound asset quality with low non-performing loan ratio, strong gross income generation and return on average assets, and comfortable liquidity position supported by strong customer deposit growth. Observing Ahlibank's strong credit profile and the increased ownership interest held by Qatar government entities, CI said: "The bank has built and developed a successful business franchise, being the beneficiary of a diversified business model focused on commercial banking, trade finance and retail." Sheikh Faisal bin Abdulaziz bin Jassem al-Thani , chairman of Ahlibank, said that CI recognised the strong financial position of the bank, underpinned by various strategic initiatives, as well as the key steps already taken to maintain and enhance a sustainable performance for the future benefit of all its stakeholders. "We look forward to playing a major role over the coming years in supporting the significant requirements of the local community," he said.
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