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Kuwait, 28 October 2009 - Capital Intelligence Agency (CI), the international credit rating agency, reaffirmed Kuwait Finance House K.S.C. (KFH) long-term credit rating at A+ and short-term at A1 for its solid and stable outlook. The positive ratings reflected the sufficient liquidity of KFH, its diversified global expansion and strong support from three governmental authorities which includes the Public Authority for Investments.
CI reported that KFH is one of the most prominent and advanced Islamic financial institutions in Kuwait and the world, as evidenced by its large market share in terms of credit, deposits and assets. It also highlighted strategic importance of KFH in the Kuwaiti banking sector and the availability of governmental guarantee for the deposits made in Kuwaiti banks.
KFH Risk Management Manager, Abdul Aziz Al-Badr stated that the ratings enforced the leadership position of KFH as a pioneer Islamic financial institution that carefully studied and strategised its’ local, regional, and international expansion plans.
Recently, Kuwait Finance House was ranked first amongst Kuwaiti banks in 2008 by the Economy and Business Group. KFH was the only Kuwaiti bank to rank sixth among the first 10 Arab banks with its shareholders' equity reaching USD 5.8 billion in both 2007 and 2008.
Derived from a public survey, the result attributed the success of KFH to its rapid and well-rounded growth and its careful expansion into the Gulf area, having entered the markets of Saudi Arabia, Qatar and Bahrain, as well as Turkey and Malaysia. Its assets have increased by 19.9 percent to USD 38.2 billion, and its shareholders' equity has increased by 13.4 percent to USD 5.8 billion, which eventually led to a 2.4 percent increase in assets.
CI reported that KFH is one of the most prominent and advanced Islamic financial institutions in Kuwait and the world, as evidenced by its large market share in terms of credit, deposits and assets. It also highlighted strategic importance of KFH in the Kuwaiti banking sector and the availability of governmental guarantee for the deposits made in Kuwaiti banks.
KFH Risk Management Manager, Abdul Aziz Al-Badr stated that the ratings enforced the leadership position of KFH as a pioneer Islamic financial institution that carefully studied and strategised its’ local, regional, and international expansion plans.
Recently, Kuwait Finance House was ranked first amongst Kuwaiti banks in 2008 by the Economy and Business Group. KFH was the only Kuwaiti bank to rank sixth among the first 10 Arab banks with its shareholders' equity reaching USD 5.8 billion in both 2007 and 2008.
Derived from a public survey, the result attributed the success of KFH to its rapid and well-rounded growth and its careful expansion into the Gulf area, having entered the markets of Saudi Arabia, Qatar and Bahrain, as well as Turkey and Malaysia. Its assets have increased by 19.9 percent to USD 38.2 billion, and its shareholders' equity has increased by 13.4 percent to USD 5.8 billion, which eventually led to a 2.4 percent increase in assets.
