Moody’s Investors Service, one of the world’s leading international credit rating agencies, has reported that Gulf Bank’s successful turnaround sets the stage for more balanced growth and is well positioned to take advantage of lending opportunities in Kuwait.
This came after their rating assessment in May 2014, where Moody’s affirmed the Positive Outlook for Gulf Bank and upgraded overall rating to Baa1 from Baa2. Moody’s also highlighted in its comments that the rating reflects the bank’s “Solid revenue generating capacity, Risk Management systems and practices that are better than those of peers, and comfortable liquidity”. The ratings were based on Gulf Bank’s 2013 positive financial results, which were announced during the Bank’s annual general meeting held in March 2014.
Throughout the report, Moody’s also acknowledged the heavy investment Gulf Bank has made in upgrading its risk management systems and practices, sharpening the Bank’s loan selection and origination methods.
Moody’s affirmation of the Bank’s Overall Rating and Positive Outlook indicates the agencies confidence in the Bank’s overall strategy and execution ability and the competency of its management team. Gulf Bank will continue to follow this successful strategy.
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