Commercial Bank of ratings affirmed

The financial strength ratings of Commercial Bank of Kuwait, which has various activities in Europe, have been affirmed 23 January 2014 by Capital Intelligence (CI) rating agency, based in Cyprus. how long does it take a 100mg viagra to work

Commercial Bank of KuwaitCapital Intelligence (CI) said it has affirmed ComBK’s financial strength rating (FSR) at ‘BBB+’. The rating is supported by strong asset quality and more than full loan loss reserve (LLR) coverage, together with both a strong capital position and strong liquidity. Although profitability is adequate at the operating level, the rating is constrained by weak profitability at the net level due to continued high provisioning – although this is expected to reduce this year. The Outlook on the FSR remains ‘Stable’. buy generic sildenafil online

Reflecting the Support Level of ‘2’, the Long-Term Foreign Currency (FC) Rating is also affirmed at ‘A-’, while the Short-Term Foreign Currency Rating is affirmed at ‘A2’. The Support Level of ‘2’ is based on the government guarantee of customer deposits held with banks, which remains in force, as well as the high likelihood of official financial support in case of need. The Outlook on these ratings also remains ‘Stable’. viagra produce sordera

With end-September 2013 total assets of US $ 13.7 billion, Commercial Bank of Kuwait (ComBK) is Kuwait’s fourth largest, conventional commercial bank. Members of the country’s ruling family maintain a controlling ownership interest in the Bank. Historically, the Bank has demonstrated good asset quality, strong capital ratios and good profitability. The one, longstanding vulnerability has been concentrations in both loan and the deposit bases. Asset quality ratios have now been restored to their very strong pre-2009 levels and the bank’s overall financial condition (except for profitability) is now good how to lose belly fat fast. tadalafil tablets 20 mg e20

CI continues to see an upward movement in ratings as being unlikely in the short-to-medium term. For ratings to rise, ComBK would need to both significantly improve profitability at the net level and maintain other financial metrics at current strong levels. However, in addition, the Bank would need to sharply reduce concentrations in both its loan portfolio and deposit base, as well as broadening its mix of earning streams – processes that will take time.

Author: EDITOR

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