National Bank of Kuwait S.A.K.P.: Update to credit analysis

National Bank of Kuwait S.A.K.P.: Update to credit analysis - Credit Opinion – 2023/03/07 – 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 37% market share of total assets on a consolidated basis in Kuwait in September 2022 as a universal bank, and also based on the government's full guarantee for all bank deposits that is currently in place. The standalone BCA of a3 reflects the bank's dominant domestic franchise and regional presence, underpinning its resilient core profitability through the credit cycle with well- diversified earnings from various business lines. The bank's BCA also takes into account its growth prospects and robust financial fundamentals, including its consistently strong asset quality, solid capitalisation and ample liquidity. These credit strengths are moderated...

Moody's affirms National Bank of Kuwait's A1/P-1 deposit ratings; stable outlook - Rating Action – 2023/03/01 – US$ 180.00 – ...MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND 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, ASSESSMENTS, OTHER OPINIONS OR 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. MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND 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...

National Bank of Kuwait S.A.K.P.: Update to credit analysis - Credit Opinion – 2022/09/21 – 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 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 the first half of 2022 following a weak performance in 2020 because of the coronavirus pandemic. The bank's BCA also takes into account its growth prospects and robust financial fundamentals, including its consistently strong asset quality, adequate capitalisation and ample liquidity. These credit strengths are moderated by certain concentration risks on both sides...

National Bank of Kuwait S.A.K.P.: Key facts and statistics - Q1 March 2022 - Issuer Profile – 2022/07/07 – US$ 200.00 – ...National Bank of Kuwait S.A.K.P. (NBK) provides retail, corporate and private banking; investment banking; wealth management and brokerage; and Islamic banking services. It is Kuwait's largest financial institution, with a consolidated asset base of KWD33.7 billion ($110.6 billion) as of 31 March 2022, representing a 42.1% market share of Kuwait's total consolidated banking system assets. As of May 2022, NBK operated through a network of 68 branches in Kuwait. Internationally, the bank has branches in Bahrain, China, Saudi Arabia, Singapore, the UAE and the US. The bank also has a presence in Egypt, France, Iraq, Lebanon, Switzerland and the UK through various subsidiaries. Established by an Amiri decree in May 1952, NBK commenced operations in November of the same year. Since 29 September 1984, NBK's shares have been listed on the Kuwait Stock Exchange (ticker: NBK). As of 31 December 2021, NBK's largest shareholder was the Public Institution for Social Security, a public pension fund,...

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 – 2021/03/15 – 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 following review for downgrade - Credit Opinion – 2020/04/06 – 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 RUR), in case of need. The long term ratings and assessments of NBK along with the senior unsecured ratings on NBK's funding vehicles is placed on review for downgrade. 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.: 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....