S&P Global Ratings Affirms Commercial Bank’s Rating at A-/Stable/A-2

Doha, November 05 (QNA) - Standard & Poor's (S&P) Global Ratings has affirmed Commercial Bank's issuer credit ratings at A-/A-2 with a Stable Outlook.

According to S&P, Stable Outlook reflects the expectation that Commercial Bank will continue to maintain strong capital levels and further strengthen its asset quality indicators over the next 12 to 24 months.

The rating affirmation also recognises Commercial Bank's well-established corporate franchise in Qatar, its diversified funding and healthy liquidity position, and adequate earnings generation capacity as key factors supporting the rating. S&P also noted the high likelihood of government support in view of the Bank's systemic importance within the domestic banking sector.

Commenting on the announcement, EGM, Chief Financial Officer of Commercial Bank, Noman Ali said: "This rating affirmation reflects confidence in our strategy and the solid foundations we have built over the years." (QNA)