(MENAFN- Gulf Times) S & P Global Ratings has revised its outlook from ‘stable' to ‘positive' on Commercial Bank while affirming its 'BBB+/A-2' long and short-term issuer credit ratings. According to S & P, 'Over the past few years, Commercial Bank has de-risked its balance sheet and strengthened its risk management.
The ratings agency also highlighted the key role of the Qatari authorities in providing support to the bank, as stated in the report, 'We classify Commercial Bank as having high systemic importance and consider the authorities in Qatar highly supportive of the country's banking sector.
Commercial Bank Group Chief Executive Officer Joseph Abraham said, 'This upward revision of Commercial Bank from stable to positive outlook by S & P reflects the continued prudent economic management by the State of Qatar and the Qatar Central Bank despite the challenges associated with Covid-19.
'For Commercial Bank, S & P's positive outlook reflects the Bank's improved quality of earnings generation, strong capital and liquidity and the focused execution of our five-year strategic plan.
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