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Moody's affirms Boubyan Bank’s ratings, outlook

Moody's affirms Boubyan Bank’s ratings, outlook
Boubyan Bank's profits increased by 12.3%
BOUBYAN
BOUBYAN
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Mubasher: Moody's Investors Service has maintained Boubyan Bank’s baseline credit assessment at ‘ba1’ and its outlook as ‘Stable’.

Meanwhile, the bank’s long-term and short-term deposits ratings were affirmed at ‘A3’ and ‘P-2’, respectively, according to a bourse statement on Sunday.

The bank referred that the ‘ba1’ rating indicates the rapid growth of the bank's services provided to individuals and companies, locally. This shall support the bank’s stable financing as well as its strong profitability and capital. Boubyan Bank added that maintaining these ratings would reflect positively through the ongoing confidence in the bank and its solid financial position.

It is noteworthy to mention that during the third quarter (Q3) of 2019, the profits of Boubyan Bank increased by 12.3% to KWD 16.36 million.