Fitch and Moody’s Affirm Ratings of Major UAE Banks
In a move reflecting stability and confidence in the banking sector of the United Arab Emirates, credit rating agencies Fitch and Moody’s have affirmed the ratings of several major UAE banks, highlighting government support and strong profitability in this sector. The ratings from Fitch and Moody’s are a testament to the ability of UAE banks to face regional challenges, underscoring their strength under a stable outlook.
Fitch’s Affirmations for UAE Banks
Fitch has affirmed the long-term credit ratings of three leading UAE banks: Dubai Islamic Bank, Mashreq Bank, and Abu Dhabi Islamic Bank, all with a stable outlook. This decision reflects the UAE banking sector’s exposure to fewer challenges compared to its regional counterparts, thanks to strong potential support from UAE authorities.
Fitch has maintained Dubai Islamic Bank’s rating at ‘A’, bolstered by the bank’s strong profitability and improved asset quality. Data shows that the bank’s liquidity coverage ratio reached 121% by the end of the first quarter of 2026, indicating a healthy financial position.
Moody’s Analysis and Assessment of Banks
Similarly, Moody’s has affirmed the credit ratings of seven UAE banks, maintaining a stable outlook. The agency highlighted the strength of Emirates NBD, affirming its long-term deposit rating at ‘A1’ based on its established position in the retail banking sector.
Moody’s report also noted that First Abu Dhabi Bank has retained its rating at ‘Aa3’, supported by its strong financial position and close relationship with the Abu Dhabi government, while Mashreq Bank maintained its rating at ‘A3’ with a stable outlook.
Stability of Dubai Commercial Bank
Regarding Dubai Commercial Bank, Moody’s kept all of the bank’s ratings unchanged, including the long-term deposit ratings in both local and foreign currencies at ‘BAA1’. This rating reflects the bank’s standalone creditworthiness, as indicated by its baseline credit assessment of ‘ba1’. These data points confirm the resilience of UAE banks in the face of market fluctuations and geopolitical challenges.