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Fitch Affirms Emirates Islamic Bank at 'A+'; Outlook Stable

11 May 2021: Fitch Affirms Emirates Islamic Bank at 'A+'; Outlook Stable

The IDRs and Support Rating (SR) of EI are in line with its parent Emirates NBD Bank PJSC's (ENBD; A+/Stable/F1), reflecting Fitch's view that EI is a key and integral subsidiary of its 99.9% shareholder.

Fitch assigns Short-Term IDRs according to the mapping correspondence described in its rating criteria. An 'A+' Long-Term IDR can correspond to a Short-Term IDR of either 'F1' or 'F1+'. In the case of EI, Fitch opted for 'F1', the lower of the two Short-Term IDRs, in line with its parent's.

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