The Governor of the Central Bank of Kuwait (CBK), Dr Mohammad Yousef Al-Hashel, announced that CBK's Board of Directors has approved the opening of a second branch of Qatar National Bank (QNB) in Kuwait. However , Gulf region’s top three national banks — Qatar National Bank (QNB) National Bank of Abu Dhabi (NBAD); and National Bank of Kuwait (NBK) — share solid fundamentals and are among the top 5% of banks rated by Moody’s globally.

Their Aa3 deposit ratings are just one notch below the ratings of their respective sovereigns due to dominant franchises in their respective countries and strong financial performances.

According to Moody’s, solid operating environments in home markets support the strong financial fundamentals of these banks over the next 12-18 months. High public spending in Qatar, UAE and Kuwait is expected to stimulate growth in the banks’ home markets and create lending opportunities.