Abu Dhabi – Finance House P.J.S.C. (FH) retains its reaffirmed Corporate Credit Rating at “A3” (Short-Term) and “BBB-” (Long-Term), both with a Stable Outlook from Capital Intelligence (CI), the internationally acclaimed credit rating agency.
According to CI, the ratings are supported by a strong capital base, good capital ratios, satisfactory asset quality, generally good liquidity ratios that result from a strong deposit base that fully funds the loan portfolio, and good operating profitability.
Mohammed Abdulla Alqubaisi, Chairman of Finance House commented: "Our organizational success stems from our goal-oriented employees, who portray a professional corporate image to create loyal customers and increase shareholders’ value. Eventually, they propel the organization forward with strong business results that help us to maintain our investment grade credit ratings."
“We continue to showcase our ability to adjust to market gyrations, which led to our investment-grade ratings being reaffirmed by CI with a stable outlook,” added Alqubaisi.
T.K. Raman, Group Chief Financial Officer, said: “This independent credit rating exercise is a vindication of our sound strategy execution capabilities, even under challenging economic conditions. We are optimistic of sustained profitable growth in 2020 and beyond.”
Ends
About Finance House:
Finance House PJSC is an Abu Dhabi - headquartered finance company that was established on 13 March 2004 and commenced its operations on 18 July 2004.
The principal activities of the Company are commercial and retail financing, financial services and investments. The Company is licensed and regulated by the Central Bank of the UAE.
The major shareholders of Finance House include, The National Investor (TNI), a number of prominent UAE businessmen, high net worth individuals and dignitaries.
In a short span since inception, Finance House has introduced a number of innovative products and services for the consumer and commercial segments.
Finance House is listed on the Abu Dhabi Exchange under the ticker symbol FH and is categorized as a “Grade One” company by the Emirates Securities & Commodities Authority (SCA).
Finance House is rated BBB- long-term and A3 short-term, both with Stable Outlook by Capital Intelligence.
For further information, kindly contact:
Wissam Farran - Group Head
Group Corporate Communications
Finance House PJSC
Tel: +971 2 6194893
Fax: +971 2 6315806
Email: wissam.f@fh.ae
www.FH.ae
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