GIB is a well-managed institution following a conservative credit and investment policy
Capital Intelligence Ratings (CI) affirmed its ‘A+’ long term foreign currency ratings for Gulf International Bank (GIB).
The positive ratings are supported by GIB's ownership, reflecting an exceptionally strong and supportive shareholder through the Saudi Arabia government-owned Public Investment Fund (PIF).
CI Ratings has also maintained the Bank's Financial Strength Rating (FSR) at 'BBB+', reflecting GIB's geographically diversified balance sheet in highly rated GCC sovereigns, coupled by the strong liquidity and growing customer deposit base, together with good access to capital markets.
Also, supporting factor is the sound capital adequacy despite the downward trend.
GIB's liquidity remains strong, having improved over the past due to balance sheet deleveraging. The bulk of liquidity remains invested in short-term placements with prime banks in Europe and the GCC and in highly-rated debt investment securities
The bank's still sound capital ratios provide a good buffer against adverse eventualities, and a firm basis for the ongoing required investment in retail banking.