Mubasher: Moody’s Investors Service has updated the long-term deposits of the National Bank of Kuwait (NBK) at ‘Aa3’, according to a recent disclosure to Boursa Kuwait on Tuesday.

Moody’s also placed the Counterparty Risk Assessment (CRA) at ‘Aa2/Prime-1’, while the outlook is “Stable”.

The rating will enhance NBK’s leading role in local and regional markets, while also stressing the bank’s stability and ability to achieve higher operating results, according to the disclosure.

Moody’s classification also shows NBK’s strong performance and firm financial indices, while the outlook reflects the bank’s strong assets, capitalisation percentages, and high liquidity, taking Kuwait’s stable sovereign rating into account.

It is worth pinpointing that during the first half of 2019, the bank’s profits surged by 12.5% to KWD 209.09 million from KWD 185.86 in the corresponding period in 2018.