Al Rajhi Banking and Investment Corporation – Ratings and Positive Ou t look Affirmed

Ref: SA 00 22 3 CRA00- 01 1 6 May 20 2 4

Al Rajhi Banking and Investment Corporation – Ratings and Positive Ou t look Affirmed

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long -Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Al Rajhi Banking and Investment Corporation (ARB) at ‘A+’ and ‘A1’, respectively. At the same time, CI Ratings has affirmed ARB’s Bank Standalone Rating (BSR) of ‘a-’, Core Financial Strength (CFS) rating of ‘a-’ , and Extraordinary Support Level (ESL) of High. The Outlook for the LT FCR remains Positive. The BSR remains on a Stable Outlook.

ARB’s LT FCR is currently set two notches above the BSR to reflect the high likelihood of timely and appropriate extraordinary support from the KSA government in case of need. Saudi banks are considered systemically important banks that play an…