Al Ahli Bank of Kuwait – Ratings Affirmed

Ref: KW 00 1 20 CRA00- 01 9 June 202 1

Al Ahli Bank of Kuwait – Ratings Affirmed

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the L ong-Term Foreign Currency Rating (L T FCR ) and Short-Term Foreign Currency Rating ( ST FCR ) of Al Ahli Bank of Kuwait (ABK) at ‘A+’ and ‘A1’, respectively. At the same ti me, CI Ratings has affirmed ABK ’s B ank Standalone Rating (B SR ) of ‘bbb+’ and C ore Financial Strength (C FS ) rating of ‘bbb+’. The Outlook for the LT F CR and BSR remains Stable.

The three-notch uplift of the LT FC R above the BSR is based on an Extraordinary Support Level (E SL ) of High. The ESL takes into account the Bank’s market position in the Kuwaiti banking sector, the Kuwaiti government’s strong track record of providing assistance to banks in the event of need, the existence of a state guarantee…