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Al Ahli Bank of Kuwait Jun 11
Standard & Poors, June 2011
Abstract
Strong capitalization and preprovision earnings capabilities. Adequate asset quality. Ongoing government support on the funding side. Limited market position in a narrow and increasingly competitive market, leading notably to concentration risks in loans. Sustained reliance on government spending and funding. Still fragile economic environment, which strains asset quality and profitability metrics. The ratings on Al Ahli Bank of Kuwait (ABK) reflect Standard & Poor's Ratings Services' view of the bank's strong capitalization and preprovision earnings capabilities, adequate asset quality, and ongoing system support from the authorities, which shores up its funding profile. The ratings are primarily constrained by our perception of the bank's limited market position, high concentrations in the loan book, dependence on government funding, and the deteriorated operating...
Companies mentioned in this report are: Al Ahli Bank of Kuwait
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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