Kuwait-Mubasher: Fitch Ratings affirmed Burgan Bank’s long-term issuer default rating (IDR) at “A+”, with a “Stable” Outlook, while the short-term IDR was assigned at 'F1', according to a statement issued on Monday.
Fitch noted that the ratings reflect “Kuwait's strong ability to provide support to its banking sector, as indicated by its 'AA'/Stable rating”.
“Burgan has tight capital ratios given its loan concentrations, rapid growth in challenging regional markets and equity-related investments. Capitalisation, therefore, has a high influence on Burgan's viability rating,” according to Fitch’s statement.
