Capital Intelligence (CI), the international credit rating agency, affirmed National Bank of Kuwait’s (NBK) long and short-term Foreign Currency Ratings at “aa-“ and “a1+”, respectively, and its Financial Strength Rating (FSR) at “a+”. The Outlook for all ratings remains Stable.
CI said that NBK’s rating “is supported by the excellent asset quality and a strong capital position, as well as by the solid returns that NBK has been able to achieve, even in what have been some difficult years for the Kuwaiti banking system.”
“NBK is by far the largest bank in Kuwait and has a strong position in all segments of the non-Islamic banking market”, the agency added. “With the stake in Boubyan Bank and the widening range of products offered by investment banking arm NBK Capital, the Group has been able to compensate for the limited growth opportunities in the market with respect to its traditional domestic banking products.”
NBK enjoys the highest credit ratings of all banks in the region by the major international rating agencies: Moody's, Standard & Poor's and Fitch Ratings. NBK’s ratings are supported by its strong capitalization, prudent performance, and its disciplined approach to risk management, in addition to the stability and professionalism of its management team.
In 2012, NBK moved up 14 positions to rank 33 among the 50 safest banks in the world. NBK is the only Arab bank to be listed among the 50 safest banks in the world for the fifth consecutive time.