Arab National Bank’s Ratings Affirmed

Ref: SA 00420CRA00-01 28 September 20 2 1

Arab National Bank’s Ratings 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 Arab National Bank (ANB) at ‘ A’ and ‘A1’, respectively. The O utlook for the LT FRC is Negative, reflecting a similar outlook on Saudi Arabia’s sovereign ratings . At the same time, CI Ratings has affirmed ANB’s Bank Standalone Rating ( BSR ) of ‘bbb+’ with a Stable O utlook, Core Financial Strength ( CFS ) rating of ‘bbb+’ and Extraordinary Support Level ( ESL ) of High.

The Bank’s LT FCR is set two notches above the BSR to reflect the high likelihood of timely and sufficient extraordinary support from the government if needed (Saudi Arabia Sovereign Rating: ‘A+’/ ‘ A1’/ Negative). All Saudi domestic banks are…