Kuwait-Mubasher: Standard & Poor's has affirmed the National Bank of Kuwait’s (NBK) long-term credit rating at “A+”, with a “Stable” outlook, the bank said in a bourse statement.
The financial services company said that the bank’s provisions cover high loan loss by acting as a strong cushion against elevated credit losses, NBk added in the statement.
S&P expects NBK's RAC ratio to “hover at about 8.5% over the next two years,” according to a statement. “The sharp fall in oil prices over the past year and a half has dented Kuwait's economic growth prospects as well as its wealth levels, as measured by GDP per capita.”
