Standard & Poor’s awards Boubyan Bank the highest credit rating in Kuwait

Standard & Poor’s awards Boubyan Bank the highest credit rating in Kuwait

- Al-Majed: Rating Boubyan atop Local Banks Confirms Our Successful Ongoing Balance between Growth, Expansion, and Profits

Boubyan Bank took a new step towards further achievements as we approach the end of this year by receiving a new upgrade of its credit rating from Standard & Poor’s Ratings, which upgraded the bank’s long-term issuer credit rating to “A”, and revised its Outlook to “Stable”, while upgrading its SACP rating to “bbb+”.

Boubyan Bank’s Vice-Chairman & Group Chief Executive Officer, Mr. Adel Al-Majed, stated: “Thanks to Almighty Allah, we have made a new achievement in our journey as we come closer to the end of this year. This major step confirms our success in striking the needed balance between expansion and growth of our business locally and internationally on the one hand, and good profits on the other hand.”

He added: “Upgrading our credit rating despite the uncertainty of international economic expectations, owing to geopolitical factors and inflation rates, reflects the strength of our banking services and our ability to achieve balanced growth, while maintaining the quality of our assets, the thing which was highlighted by the prestigious rating agency which believes that this helps the bank maintain strong capitalization.

The latest upgrade places Boubyan