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Fitch: NBK’s AA- rating reflects dominant position

Fitch Ratings has said National Bank of Kuwait (NBK) has maintained sound profitability ratios in 2011 and first quarter 2012, thanks to a strong capital base, sound asset quality, conservative risk profile and sound liquidity, Kuwait Times has reported. "Net income is expected to remain sound in 2012, despite the continuing difficult conditions in certain Middle East countries," the ratings agency said. Fitch affirmed NBK's Long-term Issuer Default Rating (IDR) at 'AA-' with a 'Stable' outlook, and said the lender's asset quality ratios remain sound, reflecting the bank's conservative attitude to credit risk.