The international credit rating agency, Moody’s Investors Service, has upgraded Gulf International Bank’s (GIB) long-term deposit rating to A3 from Baa1. The new rating reflects a material improvement in the Bank’s earnings quality and risk profile. At the same time, Moody’s reaffirmed GIB’s short-term deposit rating of P-2 and the Financial Strength Rating (FSR) of C, while the outlook on all ratings is Stable. Moody’s explained that the rating upgrade “is the result of the strengthening of GIB’s regional merchant banking franchise in the Middle East and the consequent improvement in earnings quality, as well as the improvement in the bank’s credit risk profile.”