...Support Drives IDRs: Barwa Bank's Issuer Default Ratings (IDRs) are driven by an extremely high probability of support from the Qatari authorities, if needed. This reflects Qatar's strong ability to support its banks, as indicated by its rating, combined with Fitch Ratings' view that there would be a strong willingness to do so. Barwa's Viability Rating (VR) considers its limited franchise, strong ties to the government, high balance-sheet concentration and weak funding and liquidity. The VR also reflects the bank's sound asset quality, strong capital ratios and acceptable profitability. Limited Franchise; Strong Government Ties: Barwa has a domestic market share of only 3% and is the smallest of four Islamic banks in Qatar. Nonetheless, it benefits from its strong ties to the Qatari government (as a result of the 54% ownership stake held by various government entities), which help generate business flows in both financing and funding. Sound but Deteriorating Asset Quality: Barwa's impaired...
