Tag Archives | fitch ratings

Fitch Rates Iraq's RTB Bank 'CCC+'

By John Lee. Fitch Ratings has assigned Erbil's Region Trade Bank for Investment and Finance Private Shareholding (RTB) a Long-Term Issuer Default Rating (IDR) of 'CCC+', and Viability Rating (VR) at 'ccc+'. It says the rating reflects the bank's, "limited franchise, unstable business model, volatile and concentrated customer deposit base and weak albeit improving profitability." […]

Fitch Rates Iraq's Gulf Commercial Bank 'CCC+'

By John Lee. Fitch Ratings has assigned the Gulf Commercial Bank (GCB) a Long-Term Issuer Default Rating (IDR) of 'CCC+', and Viability Rating (VR) at 'ccc+'. It says the rating reflects the bank's, "weak franchise and unstable business model, operations in the highly volatile operating environment of Iraq, a high impaired loans ratio (which is […]

Fitch Rates Iraq's Sumer Commercial Bank 'CCC+'

By John Lee. Fitch Ratings has assigned the Sumer Commercial Bank (SCB) a Long-Term Issuer Default Rating (IDR) of 'CCC+', and Viability Rating (VR) at 'ccc+'. It says the rating reflects the bank's "weak operating environment, limited franchise, unstable business model and weak profitability". More here. (Source: Fitch Ratings)

Fitch Rates Iraq's KIIB Bank 'CCC+'

By John Lee. Fitch Ratings has assigned the Kurdistan International Islamic Bank (KIIB) a Long-Term Issuer Default Rating (IDR) of 'CCC+', and Viability Rating (VR) at 'ccc+'. It says the rating reflects the bank's "weak franchise, unstable business model and operations in the highly volatile operating environment of Iraq". More here. (Source: Fitch Ratings)

Fitch Rates Iraq's RTB Bank 'CCC+'

By John Lee. Fitch Ratings has assigned the Erbil-based Region Trade Bank for Investment and Finance Private Shareholding (RTB) a Long-Term Issuer Default Rating (IDR) of 'CCC+', and Viability Rating (VR) at 'ccc+'. It says the privately-owned bank has minimal market shares in Iraq, no competitive advantages and limited distribution capabilities. More here. (Source: Fitch […]

Fitch affirms Negative Outlook for TBI

By John Lee. Fitch Ratings has affirmed Trade Bank of Iraq's (TBI) Long-Term Issuer Default Rating (IDR) at 'B-' with Negative Outlook. A full list of rating actions is below. The Negative Outlook mirrors that on the sovereign. This reflects the impact of oil price slump on Iraq's fiscal and external finances, near-term uncertainty over […]

Fitch Downgrades Outlook for Trade Bank of Iraq (TBI)

By John Lee. Fitch Ratings has revised the outlook for the Trade Bank of Iraq (TBI) from "Stable" to "Negative". In a statement, it says that TBI's Issuer Default Rating (IDR)s are driven by the bank's Viability Rating (VR) and underpinned by potential sovereign support. "The revision of the Outlook to Negative from Stable follows […]