Fitch affirms KIB’s IDR at ‘A+’; Outlook ‘Stable’

Mubasher: Fitch Ratings has affirmed KIB’s long-term issuer default rating (IDR) at ‘A+’, with a ‘Stable’ outlook.

The bank’s viability rating (VR) was affirmed at 'bb-', KIB said in a filing to Boursa Kuwait on Tuesday.

The new ratings enhance KIB’s financial position as well as its operating environment, the bank said, noting that there is no change in the current ratings from the previous ones.

It is worthy to mention that during the first half of 2019, KIB’s profits slid to KWD 9.61 million, compared to KWD 11.97 million in the same period in 2018, a 19.7% year-on-year drop.

Mubasher Contribution Time: 01-Oct-2019 10:17 (GMT)
Mubasher Last Update Time: 01-Oct-2019 10:17 (GMT)