Mubasher: Fitch Ratings has affirmed Al Ahli Bank of Kuwait’s (ABK) long-term foreign currency rating at “A+”, with a “Stable” Outlook.
The bank’s short-term credit rating was affirmed at “f1”, while its viability rating (VR) was affirmed at “bb+”, according to a bourse filing on Wednesday.
Fitch’s classification reflects the solid credit facility by ABK, as well as expectations of lower risks.
In the long run, Fitch noted that the local and regional markets are forecast to revive, influencing ABK’s position positively.
As for the capital adequacy ratio (CAR), the bank’s rates reached nearly 15.7% by the end of the first half of fiscal year 2017; noteworthy, ABK’s expansion plans in Egypt led to a decline in CAR.
