Kuwait – Mubasher: Capital Intelligence (CI) has affirmed the Financial Strength Rating (FSR) of Burgan Bank at ‘+BBB’, with a ‘Stable’ outlook, according to a bourse statement issued Thursday.

Burgan’s long-term foreign currency rating was affirmed at ‘-A’ with a ‘Stable’ outlook.

CI said that the bank is given the more than satisfactory loan asset quality including strong loan-loss reserve (LLR) cover for non-performing (NPLs).

The rating agency added that Burgan was also given “The recent capital injections and consequent improvement in capital adequacy ratio (CAR), and good liquidity underpinned by customer deposit funding.”