Fitch upgrades SDM-Bank to 'BB', outlook stable09 September 2019
International agency Fitch Ratings has upgraded SDM-Bank PJSC's Long-Term Issuer Default Ratings (IDRs) to 'BB' from 'BB-'. The outlook is stable.
The upgrade reflects the bank's extended track record of stable and profitable performance combined with good asset quality and capital metrics, and solid liquidity buffers. Experts also praise the the bank's conservative business model and a prudent risk management policy.
Fitch Ratings assigned the initial rating to SDM-Bank in 2008.