...State Support Drives IDRs: Abu Dhabi Islamic Bank PJSC's (ADIB) Issuer Default Ratings (IDRs) are driven by an extremely high probability of support from the UAE and Abu Dhabi authorities, if needed. This considers the authorities' strong capacity to support the banking system and their long record of supporting domestic banks, as w ell as ADIB's domestic systemically important (D-SIB) status in the UAE and Abu Dhabi in particular. ADIB's Viability Rating (VR) reflects its w eak asset quality, low coverage of impaired financing, still w eak core capital ratios, high balance-sheet concentration and significant related-party lending. The VR also takes into account the bank's strong and resilient UAE-w ide franchise, especially in Islamic retail banking, healthy profitability, sound liquidity and stable funding. Well-Established Franchise: Despite low er grow th, ADIB has maintained its 5% market share of UAE banking-sector assets and customer financing. ADIB is the second-largest UAE Islamic...
