Fitch affirms NBK’s long term ratings at AA-, outlook stable

Press release
Published November 10th, 2015 - 07:27 GMT
National Bank of Kuwait
National Bank of Kuwait

Fitch Ratings, the international credit rating agency, affirmed National Bank of Kuwait’s (NBK) Long-term Issuer Default Rating (IDR) at ‘AA-’, the highest in the Middle East and North Africa, with a Stable Outlook.

Fitch said that NBK’s ratings underpins  its unique status and systemic importance as the flagship bank in Kuwait and dominant franchise, which supports it revenue generation capacity and ability to finance better quality assets than peers.

Fitch Also noted that NBK’s ratings also factor in the bank’s strong management, consistent strategy and solid funding profile.

The agency also pointed out that the Kuwaiti banks benefit from a fairly stable operating environment. While the banks are not immune to the fall in oil prices, Fitch believes that the government’s capital spending plans will partially offset the pressures. Several major projects have been awarded and financed in 2014 and 2015 which are providing growth opportunities for the sector. 

NBK continues to enjoy collectively the highest from the three international rating agencies Moody’s, Fitch Ratings and Standard and Poor’s. The Bank’s ratings are supported by its high capitalization, prudent lending policies, and its disciplined approach to risk management, in addition to its highly recognized and very stable management team. NBK was also named among Global Finance’s list of the 50 safest banks in the world for the tenth consecutive time.

NBK enjoys the widest banking presence with a local and international network reaching 4 continents. NBK’s international presence spans many of the world’s leading financial centers including New York, Europe, GCC, Middle East, Singapore as well as China (Shanghai).

Background Information

National Bank of Kuwait

The products and services offered by NBK Jordan Corporate Banking are on par with the top private banks in the world and NBK is confident that all your expectations will be exceeded.

You can take your business to the next level with ease. With NBK Jordan you can fund the growth of your business with a wide range of financial solutions tailored for your needs.

NBK Jordan provides innovative products and services offering solutions to even the most complex business strategy.

We take the time to understand your business, and work with you to take advantage of our full range of financial products and services that can help you streamline your financial operations, manage daily business needs, and pursue the long-term plan you have for your company.

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