(From MENA Business Reports)
Emerging markets rating agency Capital Intelligence (CI) has placed the ratings of Bank of Sharjah on a positive outlook following the substantial increase in capital this year, which strengthens the balance sheet, stated a press release.
A possible rating upgrade at the next review will depend on how the bank will use its new capital to create opportunities for growth in the future. The bank's good management and strong financial fundamentals underpin its financial strength rating, which was affirmed at BBB-.
The bank's foreign currency ratings have been affirmed at BBB- long-term and A3 short-term. Although the bank …