Moody’s Affirms A3 Issuer Rating of CIMB Islamic Bank; Stable Outlook

Moody’s Investors Service (Moody’s) has affirmed the A3 issuer rating of CIMB Islamic Bank (CIMB Islamic), while maintaining a Stable Outlook, according to a statement issued on the 5th of February 2021.

According to Moody’s, CIMB Islamic’s A3 issuer ratings are placed two notches above the bank’s baa2 baseline credit assessment (BCA), reflecting Moody’s expectation of a very high level of support from CIMB Bank, as well as the Government of Malaysia.

The baa2 BCA of CIMB Islamic accounts for the bank’s strong franchise in Malaysia, bolstered by its ranking as the second-largest Islamic bank in the country in terms of assets and deposits, in addition to the bank’s stable profitability and strong liquidity. However, Mood...