ENP Newswire -
Release date- 06062014 - Standard & Poor's, the international credit rating agency, said that its outlook on
In its latest report published yesterday (
Earlier this month, Standard & Poor's affirmed the long-term credit ratings of NBK at A+. All the bank's ratings carry a stable outlook.
Standard & Poor's said: 'We assess NBK's business position as 'strong'. We believe the bank's franchise will remain strong, underpinned by its leading position in
'Domestically, we understand NBK's strategy will be to focus primarily on widely anticipated financing opportunities from government related projects in
Standard & Poor's assessed NBK's risk position as 'adequate'. 'We do not foresee a deterioration of the nonperforming loan (NPL) ratio over the next few quarters. We believe that NBK's sound earnings capacity can absorb high and incremental cost of risk as it emerges.'
The agency stated that 'NBK is the largest bank in
NBK has consistently been awarded the highest credit ratings in the region by the major international rating agencies: Moody's, Standard & Poor's and Fitch Ratings. NBK is the only Arab bank to be listed among the world's 50 safest banks eight times in a row.
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