Moody’s has recently affirmed NBK’s Aa3/ Prime- 1 long- and short-term deposit ratings and the bank’s C standalone bank financial strength rating (BFSR), equivalent to a baseline credit assessment of a3. The outlook on the ratings is stable.

In its latest credit opinion report, Moody’s stressed that NBK continues to report good and-better-than-domestic-peer asset quality metrics. NBK’s consistently high levels of core profitability remain a source of strength. The agency expects that NBK will maintain comfortable capitalization metrics in 2013.

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Moody’s said that NBK’s size and domestic ranking places it in a preferential position to exploit larger credit opportunities compared to its domestic peers.

The rating agency added that NBK has a stable deposit base and it would benefit from "flight to quality" in the event of non-intrinsic systemic problems.

Moody’s said that NBK is the largest financial institution in Kuwait with a market share of just under 30% of consolidated system assets. NBK’s corporate banking is strong; the bank has historically acted as lead-financier for the majority of public contracts awarded to foreign companies. The bank is a leader in trade finance and one of the few indigenous banks with the capacity to structure and underwrite large capital market transactions.

NBK has consistently been awarded the highest credit ratings of all banks 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 seven times in a row.

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