Kuwait-Mubasher: Capital Intelligence (CI Ratings) has affirmed Kuwait Finance House’s (KFH) Financial Strength Rating (FSR) at 'BBB', according to a recent statement.
The rating is supported by the bank’s dominance of the Islamic banking sector in Kuwait, its large market share in both deposits and loans, and by the improved equity base following the June 2013 rights issue, according to the statement.
“CI Ratings affirms the Long-Term Foreign Currency Rating (FCR) at ‘A’, and the Short-Term FCR at ‘A1’. The Outlook on all ratings is ‘Stable’,” the statement said.
KFH’s stock rose by 2.25% to 455 fils by 10:50 am Kuwait time on Wednesday, after around 586,300 shares were traded at a value of nearly KWD 263,800.
