Kuwait – Mubasher: Moody’s Investor Service has affirmed Gulf Bank of Kuwait’s long-term deposit rating at "A3", according to a bourse statement issued on Thursday.

Meanwhile, the short-term deposits were affirmed at "Prime-2", while the baseline credit ratings were affirmed at "ba1".

The rating agency clarified that the strength points of the bank’s credit include a decrease in the levels of non-performing loans (NPLs) at 2.5% of the overall loans, as well as the increase in covering provision to 331% by the end of 2016, the statement noted.