Mubasher: Warba Bank on Monday announced that Moody's Investors Service has affirmed the lender’s long-term deposit ratings at (Baa2), with a “Stable” outlook.

The bank’s main credit rating was confirmed at (ba3), while its Counterparty Risk Assessment (CR Assessment) was assigned at (Baa1 / P-2) by the international rating agency, according to a statement to Boursa Kuwait. 

The rating reflects the bank’s robust fiscal position, the statement added.

During the full-year 2018, Warba Bank reported a 71% profit increase to KWD 12.74 million, compared to KWD 7.45 million ($24.63 million).