BisB upgraded by Moody’s Investor Service with a “positive outlook”

02-February-2016

Moody’s Investor Services announced on January 26th a change of BisB's BCA to b3 from caa1. Moody’s declared “The positive outlook reflects the expectation that the bank will maintain the improving trend in asset quality and profitability in the face of a challenging operating environment. The BCA also continues to be moderated by risks associated with borrower concentrations and high growth”. The CEO of BisB, Mr. Hassan Jarrar commented, “This is an important milestone for BisB as it is the first upgrade for the Bank since Moody’s initiated its coverage of BisB over seven years ago. The upgrade is a culmination of several positive developments at BisB including the recent strengthening of our capital, the building of a best in class management team, improvement in the Bank’s credit portfolio and the overall new direction in which the Bank is headed. I would like to thank the Bank’s board of directors, shareholders and investors and our clients for their tremendous support”