Mubasher: Fitch Ratings has affirmed National Bank of Kuwait's (NBK) long-term Issuer Default Rating (IDR) at 'AA-' with a Stable Outlook, and the viability rating (VR) at 'a-'.
Being Kuwait's flagship bank with a diversified business model, resilient asset quality, good capitalization, and stable funding and liquidity, were the top factors behind the rating.
“The rating is attributed to the Bank's unique status given its systemic importance as the flagship bank in Kuwait, and close business and strategic links with the state, whereas the NBK's Stable Outlook reflects that on the Kuwaiti sovereign rating,” according to the rating agency.
