Kuwait – Mubasher: Al Ahli Bank of Kuwait (ABK) said that Moody’s Investors Service has affirmed the long-term foreign currency rating at ‘A2’, with a ‘Stable’ outlook.
This rating reflects the solid baseline of ABK as well as the large reserves for losses from loans, the bank said in a bourse statement issued Tuesday.
Oil prices may continue to fall, reflecting negatively on the business sentiment and the existing prices in Kuwait, ABK noted.
ABK’s revenues before provisions showed financial flexibility, while the cost of higher provisions led to medium profitability, the statement added.
On the stock level, ABK ended Tuesday’s session at 315 fils after 370 shares were exchanged at a value of about KWD 117.
