London: Moody’s Investors Service has affirmed National Bank of Ras Al Khaimah’s (RAKBANK) global foreign and local currency deposit ratings at Baa1/P-2. At the same time, Moody’s has affirmed RAKBANK’s D+ standalone Bank Financial Strength Rating(BFSR), mapping to baa3 baseline credit assessment (BCA) on the long term scale. All ratings carry a stable outlook. Moody’s also affirmed the (P)Baa1 rating assigned to the bank’s senior unsecured MTN program (foreign currency). Moody’s said the rating affirmation reflects RAKBANK’s (i) strong retail and small medium enterprises (SME) lending franchise, which continue to generate stable core earnings (ii) low borrower concentration compared to UAE peers and (iii) consistently strong profitability, asset quality and capitalisation metrics.