Moody’s affirms Commercial Bank’s rating at ‘A2/Prime-1’ with stable outlook

Moody’s affirms Commercial Bank’s rating at ‘A2/Prime-1’ with stable outlook

According to Moody’s, Commercial Bank’s ratings reflects their expectations that the Bank’s capitalisation and liquidity will remain steady against ongoing asset quality pressure, downside risks from the bank’s balance sheet concentrations, and high reliance on market and external funding

Global credit rating agency also affirms Commercial Bank’s deposits rating at 'A3/Prime-2' with stable outlookMoody’s, a global credit rating agency, has affirmed Commercial Bank’s long-term issuer default rating at ‘A2/Prime-1’ with a stable outlook and bank deposits rating at ‘A3/Prime-2’ with a stable outlook.According to Moody’s, Commercial Bank’s ratings reflects their expectations that the Bank’s capitalisation and liquidity will remain steady against ongoing asset quality pressure, downside risks from the bank’s balance sheet concentrations, and high reliance on market and external funding.The ratings are due to the bank’s strengths, which stem from strong profitability and efficiency, moderate capital buffers that are sufficiently above regulatory requirements, healthy liquidity, and a heightened likelihood of support from Qatari authorities when needed.Commercial Bank Group chief executive officer Joseph Abraham said, “This reaffirmation by Moody’s reflects Commercial Bank’s efforts in meeting the financial obligations of the banking sector in Qatar. Our credit ratings reaffirm our proactivity in risk management, strong market presence, and sufficient liquidity;