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Ram Ratings Reaffirms Maybank Islamic's AAA/Stable/P1 Ratings
Last update: 05/01/2018

KUALA LUMPUR, Jan 5 (Bernama) -- RAM Ratings has reaffirmed Maybank Islamic Bhd's financial institution ratings at AAA/Stable/P1.

The ratings of its sukuk have also been reaffirmed.

"Maybank Islamic stands among the world's five largest Islamic banks, and on its own, it is the biggest domestic Shariah lender.

"The bank accounted for 34 per cent of the Malaysian Islamic banking sector's financing and a third of its deposits and investments accounts as of end-September 2017," the rating agency said in a statement.

RAM Ratings said the bank's Islamic financing made up about 56 per cent of the Maybank Group's domestic financing as of the same date, underlining its strategic importance to the banking group.

As of end-September 2017, Maybank Islamic's gross impaired-financing ratio stood a still-healthy 1.1 per cent compared to 1.0 per cent as of end-December 2016.

The bank's liquidity profile had stayed healthy as its liquidity coverage ratio averaged at above 100 per cent in the third quarter of fiscal 2017, said RAM Ratings.