Mubasher: Moody’s Investors Service has reviewed the status of Boubyan Bank and issued a recent report affirming the ratings previously assigned, with a 'Stable' outlook.

Moody’s affirmed Boubyan’s long-term deposits rating at ‘A3’, according to a statement to Boursa Kuwait on Wednesday.

The rating agency also affirmed the bank’s short-term deposits rating at ‘P-2’, and the baseline credit assessment at ‘Ba1’.

Moody’s ratings will positively reflect on the bank’s position, as they will increase its credibility and maintain its strong financial position, Boubyan Bank stated.

During the first half of 2019, the profits jumped to KWD 28.87 million from KWD 25.74 million, a 12.2% year-on-year increase