Abu Dhabi Commercial Bank (ADCB) announced that S&P Global Ratings has upgraded its long-term issuer credit rating to ‘A+’ from ‘A’ with a ‘stable’ outlook. This elevation is attributed to the bank’s robust financial position and high asset quality.

The upgrade places ADCB among the top three highest-rated banks by S&P in the MENA region. The bank’s strong market position has led to significant balance sheet expansion, which is a key factor in this rating improvement.

In a research update, S&P noted that the bank’s ability to generate sound earnings and retain high levels of capital are crucial strengths in its capitalization. The agency expressed confidence that ADCB’s asset quality is likely to benefit from enhancements in its risk management culture and control framework over the past four years.

S&P highlighted that these improvements, along with a more restrained risk appetite, position ADCB to better navigate various economic cycles. The bank indicated that its high investment-grade ratings facilitate a favorable cost of capital as it embarks on a new strategy aimed at doubling its net profit to AED 20 billion within five years.