NO. 42


Financial and Banking News

Regional Banking

IBCA Upgrades United Bank Of Kuwait

IBCA, the London-based bank rating agency, has upgraded United Bank of Kuwait(UBK) to B/C from C. Its short-term rating remains A2. (For a definition of theB and C ratings see the article on UBAF London's upgrading in MEES, 20 June.) Asreasons for the upgrading, IBCA cited the successful development of fee incomeduring the last three years and considerably reduced provisions. Fee income...