S&P revises CB’s outlook to stable Dec 13, 2018 0 401 12345 Tribune News networkDohaS&P Global Ratings has revised Commercial Bank’s (CB) outlook from negative to stable, affirming a short-term rating of A-2 and a long-term rating of BBB+, the bank said in a statement on Wednesday.In its report, the ratings agency cited Commercial Bank’s position as the third-largest bank in Qatar, its healthy capitalisation, and its ongoing work to reshape its loan book toward lower risk sectors as factors in the decision to upwardly revise the bank’s outlook.The S&P report states, “Our ratings on CB reflect its good franchise in Qatar as the third-largest bank in the system. The bank holds 14% of its assets in liquid form and has another 10% in highly rated government bonds. As a systemically important bank in a highly supportive country, the long-term rating on CB is three notches higher than the bank’s SACP.”The decision to improve Commercial Bank’s rating comes days after S&P revised its outlook on Qatar from negative to stable, giving the country a rating of AA-/A-1+ because of the country’s “effective management of the fallout from the ongoing boycott related to trade and financial flows”, according to its report.Joseph Abraham, Group CEO, Commercial Bank, said, “This upward revision is due to the prudent economic management by the government and Qatar Central Bank since the blockade resulting in a revision of the country rating outlook to stable, and for Commercial Bank the positive view is based on the strong execution of our five-year strategic plan. “We are achieving everything that we set out to do two years ago in terms of careful management of our capital position, taking provisions for our legacy loan book, reducing our cost to income ratio, de-risking and re-shaping our balance sheet, and continuing to build our franchise based on innovation and new technology.” Pages 123 RELATED ARTICLES Rising FDI confirms Qatar’s robust economic outlook Dec 13, 2018 0 1395 QDB launches event on FinTech to boost young Qatari start-ups Dec 13, 2018 0 2108 QC, PalTrade sign MoU to boost trade Dec 13, 2018 0 709 Woqod holds board of directors meeting Qatar Fuel (Woqod) CEO Saad Rashid al Muhannadi announced in a statement that Qatar Fuel Board of Directors held its sixth meeting of the year on Wednesday, presided over by Chairman of the Board Ahmed Saif al Sulaiti. He .. QSE prohibits market orders during the pre-opening of QAMCO shares Tribune News Network Doha Qatar Stock Exchange (QSE) has informed all brokers and investors that market and un-priced orders must not be entered into the trading system during the pre-opening of Qatar Aluminium .. Airline profits set to soar in 2019 as oil prices shrink: IATA Shrinking oil prices and solid economic growth should boost global aviation industry profits by nearly 10 percent next year, sector federation IATA forecast on Wednesday. The International Air Transport Association ..