Mubasher: Moody’s Investors Service has classified the National Bank of Kuwait’s (NBK) debts long-term and deposits at “Aa3”, according to a recent bourse statement.

According to Moody’s latest updated report on 18 April, the NBK was granted a “Stable” Outlook.

This “Aa3” rating reflects NBK’s solid performance and strong financial indicators, Moody’s said.

The report noted that the “Stable” Outlook indicates to the bank’s strong assets and high liquidity.

Moody’s clarified that the performance of the NBK was better than other Kuwaiti banks, with the default loans amounting 1.4% of the total credit portfolio as registered on 31 December 2017.

The rating agency added that the NBK is considered the largest financial corporation in Kuwait, with a market share of 35% of the total banking sector.