Boubyan Bank – Ratings Affirmed with a Stable Outlook

23 April 2026

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 Boubyan Bank (BB) at ‘A’ and ‘A1’, respectively. At the same time, CI Ratings has affirmed BB’s Bank Standalone Rating (BSR) of ‘bbb’, Core Financial Strength (CFS) 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. Although we believe the National Bank of Kuwait (NBK), as the majority owner, would assist BB if needed, the uplift for the ESL reflects the high probability of sufficient and timely extraordinary support from the authorities, in the event of financial distress. The ESL takes into account the Kuwaiti government’s strong track record of providing assistance to banks in the event of need, the existence of a state…