National Bank of Kuwait S.A.K.P.: Update following review for downgrade

National Bank of Kuwait S.A.K.P.: Update to credit analysis - Credit Opinion – 2022/04/28 – US$ 250.00 – ...National Bank of Kuwait S.A.K.P.'s (NBK) A1 long-term deposit rating captures the bank's Baseline Credit Assessment (BCA) of a3 and two notches of rating uplift stemming from our assessment of a very high probability of support from the Government of Kuwait (A1 stable), in case of need. This is driven by the bank's systemic importance with around 35% market share in Kuwait as a universal bank, and also based on the government's full guarantee for all bank deposits. The standalone BCA of a3 reflects the bank's dominant domestic franchise and regional presence, underpinning its resilient core profitability that recovered in 2021 and in Q1 2022 following a weak performance in 2020 due to the coronavirus pandemic. The bank's BCA also considers its growth prospects and robust financial fundamentals, including its consistently strong asset quality, adequate capitalisation and ample liquidity. These credit strengths are counterbalanced by certain concentration risks on both sides of the bank's...

National Bank of Kuwait S.A.K.P.: Update to credit analysis - Credit Opinion – 2021/09/28 – US$ 250.00 – ...National Bank of Kuwait S.A.K.P.'s (NBK) A1 long-term deposit rating captures the bank's Baseline Credit Assessment (BCA) of a3 and a two-notch uplift stemming from our assessment of a very high probability of support from the Government of Kuwait (A1 stable), in case of need. This is driven by the bank's systemic importance with around 30% market share in Kuwait as a universal bank, and also based on the government's full guarantee for all bank deposits. The standalone BCA of a3 reflects the bank's dominant domestic market position, underpinning its resilient core profitability that has been recovering in 2021 from the hit it took in 2020 due to the coronavirus pandemic. The bank's BCA also considers its growth prospects and robust financial fundamentals, including its consistently strong asset quality, adequate capitalisation and ample liquidity. These credit strengths are counterbalanced by certain concentration risks on both sides of the bank's balance sheet, including its limited geographical...

National Bank of Kuwait S.A.K.P.: Update to credit analysis - Credit Opinion – 2021/03/15 – US$ 250.00 – ...National Bank of Kuwait S.A.K.P.'s (NBK) A1 long-term deposit capture the bank's Baseline Credit Assessment (BCA) of a3, as well as two notches of uplift stemming from our assessment of a very high probability of support from the Government of Kuwait (A1 stable), in case of need. The standalone BCA of a3 reflects the bank's dominant domestic market position, underpinning its resilient core profitability and growth prospects; and robust financial fundamentals, including its consistently strong asset quality, adequate capitalisation and ample liquidity. These credit strengths are counterbalanced by concentrations on both sides of the bank's balance sheet and its limited geographical diversification....

National Bank of Kuwait S.A.K.P.: Update following recent rating action - Credit Opinion – 2020/09/29 – US$ 250.00 – ...National Bank of Kuwait S.A.K.P.'s (NBK) A1 long-term deposit and senior unsecured ratings capture the bank's Baseline Credit Assessment (BCA) of a3, as well as two notches of uplift stemming from our assessment of a very high probability of support from the Government of Kuwait (A1 Stable), in case of need. The standalone BCA of a3 reflects the bank's (1) dominant domestic market position, underpinning its resilient core profitability and growth prospects; and (2) robust financial fundamentals, including its consistently strong asset quality, adequate capitalisation and ample liquidity. These credit strengths are counterbalanced by concentrations on both sides of the bank's balance sheet and its limited geographical diversification....

National Bank of Kuwait S.A.K.P.: Key facts and statistics - FYE December 2019 - Issuer Profile – 2020/05/11 – US$ 200.00 – ...Note: Currency converted using exchange rate of KWD¡ $3.28983 as of 31 Dec 2019. Sources: Company reports (annual report Dec 2019, investor presentation Dec 2019), Moody's Investors Service research, www.boursakuwait.com.kw, www.oanda.com...

National Bank of Kuwait S.A.K.P.: Update to credit analysis - Credit Opinion – 2020/03/05 – US$ 250.00 – ...National Bank of Kuwait S.A.K.P.'s (NBK) Aa3 long-term deposit and senior unsecured ratings capture the bank's Baseline Credit Assessment (BCA) of a3, as well as three notches of uplift stemming from our assessment of a very high probability of support from the Government of Kuwait (Aa2 stable), in case of need. The standalone BCA of a3 reflects the bank's (1) dominant domestic market position, underpinning its resilient core profitability and growth prospects; and (2) robust financial fundamentals, including its consistently strong asset quality, adequate capitalisation and ample liquidity. These credit strengths are counterbalanced by concentrations on both sides of the bank's balance sheet and its limited geographical diversification....

Moody's assigns Baa3 (hyb) rating to Additional Tier 1 securities of NBK Tier 1 Financing (2) Limited - Rating Action – 2019/11/12 – US$ 180.00 – ...MOODY'S CREDIT RATINGS AND MOODY'S PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS OR MOODY'S PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. CREDIT RATINGS AND MOODY'S PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT COULD RESULT IN THEM BEING CONSIDERED A BENCHMARK. All information contained...

National Bank of Kuwait S.A.K.P.: Update to credit analysis - Credit Opinion – 2019/09/13 – US$ 250.00 – ...National Bank of Kuwait S.A.K.P.'s (NBK) Aa3 long-term deposit and senior unsecured ratings capture the bank's Baseline Credit Assessment (BCA) of a3, as well as three notches of uplift, reflecting our assessment of a very high probability of support from the Government of Kuwait (Aa2 stable), in case of need. The standalone BCA of a3 reflects the bank's (1) dominant position in its domestic market, underpinning its resilient core profitability and growth prospects; and (2) robust financial fundamentals, including its consistently strong asset quality, as well as adequate capitalisation and liquidity. These credit strengths are counterbalanced by concentrations on both sides of the bank's balance sheet and its limited geographical diversification....

National Bank of Kuwait S.A.K.P: Update to credit analysis - Credit Opinion – 2019/03/25 – US$ 250.00 – ...National Bank of Kuwait S.A.K.P.'s (NBK) Aa3 long-term deposit and senior unsecured ratings capture the bank's Baseline Credit Assessment (BCA) of a3, as well as three notches of uplift, reflecting our assessment of a very high probability of support from the Government of Kuwait (Aa2 stable) in case of need. NBK's short term deposit rating is Prime-1, the Counterparty Risk Rating (CRR) is Aa2/Prime-1, and its Counterparty Risk (CR) Assessment is Aa2(cr)/Prime-1(cr). The standalone BCA of a3 reflects the bank's (1) dominant position in its domestic market, underpinning its resilient core profitability and growth prospects; and (2) robust financial fundamentals, including consistently strong asset quality, as well as adequate capitalisation and liquidity. These credit strengths are counterbalanced by (1) concentrations on both sides of the bank's balance sheet and limited geographical diversification (for the bank's rating level); and (2) recent constraints on the bank's bottom-line profitability,...

National Bank of Kuwait S.A.K.P.: Key Facts and Statistics - FY December 2018 - Issuer Profile – 2019/03/04 – US$ 200.00 – ...Note: Currency converted using exchange rate of KWD¡ $3.27956 as of 31 Dec 2018 Source: Company report (consolidated financial statements Dec 2018, Investor presentation Dec 2018), Moody's research, www.boursakuwait.com.kw, www.oanda.com...