Capital Intelligence affirms Banque Du Caire rating at B+, with "stable" outlook

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Mon, 22 Mar 2021 - 12:32 GMT

Photo of people standing in the line to make withdrawals outside Banque Du Caire in downtown Cairo-Reuters

Photo of people standing in the line to make withdrawals outside Banque Du Caire in downtown Cairo-Reuters

CAIRO – 22 March 2021: Chairman and CEO of Banque du Caire, Tarek Fayed,  announced that Capital Intelligence Rating (CI) affirmed the B + rating of the bank with a stable outlook, which is the highest credit rating granted by the agency to an Egyptian bank.

 

Fayed added in a statement that the agency based its assessment on many of the strengths of Banque du Caire, most notably the efficiency of management and the diversity of activities, in addition to the bank’s success in achieving high profit rates, as well as the high rate of return on assets and the large deposit base that the bank owns, which provides sufficient liquidity to face risks.

 

“The rating reflects the success of the bank’s continuous development plans and business strategy despite the challenges that the whole world is witnessing as a result of the Corona crisis,” Fayed said, stressing the bank’s continued aspiration to achieve further development and growth through wise policies and a strong focus on risk management and maintaining the strength of the bank's financial position.

 

"Capital Intelligence" was established in 1982 and is headquartered in Cyprus, and it currently provides credit rating services to more than 300 financial institutions and major companies in 28 different countries around the world.

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