...Support Drives IDRs: Kuw ait International Bank K.S.C.P.'s (KIB) 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 domestic banks. The Viability Rating (VR) reflects the bank's small domestic franchise, concentrated balance sheet, w eaker asset quality and profitability than peers, small stock of liquid assets and only adequate capitalisation. The VR also factors in the bank's stable funding and competent management, as w ell as a fairly stable operating environment in Kuw ait. Sm all Dom estic Franchise: KIB has a nominal but grow ing franchise in Kuw ait w ith a 3.9% market share by local assets at end-1H19. The bank has a domestic corporate-oriented business model, w ith a particular focus on commercial real estate. Weaker Asset Quality than Peers: KIB's asset-quality metrics have been volatile in recent years...
