Jordan Kuwait Bank’s Ratings Affirmed

Ref: JO0112 2 CRA00- 0 1 1 4 February 202 4

Jordan Kuwait Bank’s 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 Jordan Kuwait Bank (JKB) at ‘B+’ and ‘B’, respectively. The LT FCR Outlook remains Positive. At the same time, CI Ratings has affirmed JKB’s Bank Standalone Rating (BSR) of ‘b+’ with a Stable Outlook, Core Financial Strength (CFS) rating of ‘b b ’, and Extraordinary Support Level (ESL) of Moderate.

The Bank’s BSR is based on a CFS rating of ‘bb’ and an Operating Environment Risk Anchor (OPERA) of ‘b+’, indicating high risk. While JKB’s ESL is Moderate, there is no uplift for the LT FCR as the latter is already at Jordan’s sovereign LT FCR level (‘B+’/Positive). JKB’s ratings are underpinned by the Bank’s…