Sharjah 24: Fitch Ratings has raised Bank of Sharjah's capacity rating to "b-" and affirmed its credit rating at "BBB+" with a stable outlook. This upgrade reflects improvements in the bank's consolidated capitalisation, attributed to the reclassification of its subsidiary, Emirates Bank Lebanon, as assets held for sale.

Fitch also acknowledges the new management's efforts to divest non-core assets, address legacy loans, and enhance profitability through business model revamping. CEO Mohamed Khediri expressed satisfaction with Fitch's recognition of the bank's strategic initiatives, highlighting strengthened regulatory capital ratios and stable financing.

Khediri emphasised the bank's commitment to sustainable growth, value creation for shareholders, and balanced risk management while prioritising customer satisfaction. The bank remains dedicated to achieving its strategic objectives and driving profitability-focused business growth.