Kuwait-Mubasher: Capital Intelligence (CI) recently announced that it has raised Gulf Bank of Kuwait's (GBK) Financial Strength Rating (FSR) to “BBB+” from “BBB”.
The international rating agency has granted GBK a “Stable” outlook. It added in a statement that the rating reflects the bank’s solid capital base and strong assets.
GBK noted in a bourse statement that the rating also mirrors the bank’s strong operating profit and the support it receives from the government.
CI has upgraded GBK’s long-term foreign currency rating to “A” from “A-“.
