RAM Reaffirms Bank Islam Malaysia’s AA3/Stable/P1 Ratings and Sukuk Programme Ratings

RAM Rating Services (RAM) has reaffirmed Bank Islam Malaysia Berhad’s (BIMB) AA3/Stable/P1 financial institution ratings. In addition, BIMB’s MYR 1 billion Subordinated Sukuk Murabahah Programme (2015/2045) rating has been reaffirmed at A1 with a Stable Outlook. Furthermore, the ratings of the Senior Sukuk Murabahah and the Subordinated Sukuk Murabahah of BIMB’s MYR 10 billion Sukuk Murabahah Programme (2018/-) have also been reaffirmed at AA3/Stable and A1/Stable, respectively.

According to RAM, the reaffirmations are based on BIMB’s robust credit metrics, which have enabled it to weather the economic conditions of the COVID-19 pandemic. The ratings also take into consideration the expected financial support from BIMB’s largest shareholder, Lemba...