Kuwait sustains steady financial system amid global turmoil

05 Nov 2015

(MENAFN) Moody’s Investors Service has kept its stable viewpoint on Kuwait’s banking system, showing the rating agency’s expectation of sustained government spending.

More on the matter, nonperforming loans (NPLs) will deteriorate to around 3 percent of gross loans for 2015/16 from 4 percent for rated banks at the end of the previous year.

Moreover, the local financial institutes have made significant progress in rehabilitating their loan books while benign operating conditions will help contain new problem loan formation.

Furthermore, Kuwait’s banking system will preserve its substantial loss absorption capacity, underpinned both by robust capitalization levels and improving overall loan-loss reserves.

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