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CI affirms KFH’s rating, Outlook “Negative”

CI affirms KFH’s rating, Outlook “Negative”
KFH’s rating is also backed by the large market share of the bank
KFH
KFH
-0.37% 800.00 -3.00

Mubasher: Capital Intelligence (CI) has affirmed the financial strength rating (FSR) of Kuwait Finance House (KFH) at “BBB”, with a “Negative” outlook.

This classification is enhanced by KFH’s control over the Islamic banking sector in Kuwait, CI said in a recent statement.

KFH’s rating is also backed by the large market share of the bank in terms of deposits and financing facilities, the statement added.

CI also confirmed the ratings of KFH’s long- and short-term foreign currency at “A” and “A1”, respectively.

The rating agency clarified that downgrading the outlook of KFH to from “Stable” to “Negative” is attributed to the continuous decline in the bank’s assets in the past three years.