Al Ahli Bank of Kuwait – Ratings Affirmed

Ref: KW 00 1 2 2 CRA00- 01 1 June 202 3

Al Ahli Bank of Kuwait – Ratings Affirmed

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating ( LT FCR ) and Short-Term Foreign Currency Rating ( ST FCR ) of Al Ahli Bank of Kuwait ( A B K ) at ‘A+’ and ‘A1’, respectively. At the same time, CI Ratings has affirmed ABK ’s B ank Standalone Rating (B SR ) of ‘bbb+’, C ore Financial Strength (C FS ) rating of ‘bbb+’ and Extraordinary Support Level ( ESL ) of High. The Outlook for the LT FCR and BSR remains Stable.

The three-notch uplift of the LT FCR above the BSR is based on an ESL 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…