Al Ahli Bank of Kuwait K S C P : Fitch affirms ABK's ratings with a stable outlook

Fitch Ratings affirmed Al Ahli Bank of Kuwait's long-term rating of the issuer at "A", with a stable outlook, and a "bb" sustainability rating.

According to a statement by the Boursa Kuwait, the short-term credit rating at "F1" is the lowest among the two options that are assigned to the long-term credit rating, because a large part of the financing of Kuwaiti banks is linked to the government, and a stress scenario is likely to arise for the bank when it suffers a form of pressure.

As for the government support rating for ABK, it reached a grade of "a", reflecting the potential support from the Kuwaiti authorities, while the sustainability rating refers to the high concentrations of the bank's loans and exposure to the Egyptian market, taking into account the moderate excellence of the bank and the quality of its assets, and the improvement in profitability. , stable financing, good liquidity metrics and adequate capital ratios.