NEW YORK, Oct. 24, 2019 (GLOBE NEWSWIRE) -- IDB Bank®, a New York-based private and commercial bank, today announced that its investment grade ratings have been reaffirmed by Kroll Bond Rating Agency ("KBRA").
KBRA gave IDB a deposit rating of A-, senior unsecured debt rating of A-, subordinated debt rating of BBB+, and a short-term debt and deposit rating of K2. The rating agency said the Bank's outlook is "stable." The ratings agency also acknowledged “favorable trends in profitability metrics driven by early success in the bank’s strategic initiatives.”
KBRA, which is registered with the SEC as a Nationally Recognized Statistical Rating Organization, noted the ratings are supported by the Bank's "comparatively strong capital profile, better-than-average asset quality, favorable historical loss rates, comprehensive liquidity and risk management infrastructure, well above domestic U.S. requirements for comparably sized peers."
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About IDB Bank
IDB Bank is a New York State-chartered commercial bank, a member of the FDIC, and a wholly owned subsidiary of Israel Discount Bank, Ltd., one of Israel’s leading banks. In addition to its Manhattan headquarters and branches in Brooklyn, N.Y., Staten Island, N.Y. and Short Hills, N.J., the Bank maintains other full-service branches in South Florida and Southern California. The Bank provides a complete range of private banking and commercial banking services to U.S. and international clients.
For 70 years IDB has built its business by fostering deep relationships with its clients, rapid decision-making, and the ability to develop custom-tailored solutions for both its domestic and international clientele.
To learn more about IDB visit www.idbny.com
IDB Bank is a registered service mark of Israel Discount Bank of New York. MEMBER FDIC