...Support Drives IDRs : Gulf Bank K.S.C.P.'s (GB) Issuer Default Ratings (IDRs) are driven by an extremely high probability of support from the Kuw aiti authorities if needed. This considers Kuw ait's strong capacity to support the banking system and its record of supporting its domestic banks. GB's Viability Rating (VR) reflects its high loan book concentration, high reliance on w holesale funding and below -peer-average profitability. It also factors in GB's adequate franchise, w ell- managed liquidity, experienced management team and good delivery on strategic objectives, adequate asset quality and capitalisation, as w ell as a fairly stable operating environment in Kuw ait. Adequate Franchise : GB has an adequate franchise in Kuw ait, in both retail and corporate banking, w ith an overall 10% market share of local assets, underpinned by a good brand. Experienced Managem ent Team : GB's management team is highly experienced in local and regional banking, w ith an improving record of strategy...
