Fitch affirms Arab Bank

Fitch Ratings said it affirmed Jordan-based Arab Bank plc's long-term issuer default rating at A- with a stable outlook and its viability rating at a-.

The ratings reflect Arab Bank's diversification in terms of risk, revenues and geographies, its leading position in the Middle East and a history of solid profitability, Fitch said. They also take into account the bank's adequate capital base, stable funding and strong liquidity, and its prudent balance sheet management.

However, regional risks cannot be entirely discounted given the group's exposure to politically volatile and less developed economies, Fitch noted. Although domiciled in Jordan, the group is geographically diversified, with about 80% of consolidated assets outside the Kingdom.

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