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S&P turns Kuwait bank view to stable
S&P said it revised its outlooks to stable from negative on National Bank of Kuwait and National Bank of Kuwait (International) plc and affirmed their ratings.
The agency noted Kuwait’s economy is benefiting from higher oil prices.
“The stable outlook on NBK balances our view that the bank will maintain stable capitalization, with its risk-adjusted capital (RAC) ratio remaining above 10% over the next 12-24 months, against its high concentration in the real estate and construction sector. The stable outlook on NBKI mirrors that on NBK, because we consider NBKI to be a core subsidiary,” the agency said in a press release.
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