Arab National Bank’s Ratings Affirmed with a Stable Outlook
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Ref: SA 00419CRA 00-01 24 Sep tember 2020
Arab National Bank’s Ratings Affirmed with a Stable Outlook
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. At the same time, CI Ratings has affirmed ANB’s B ank S tandalone R ating (BSR) of ‘bbb+’, C ore F inancial S trength (CFS) rating of ‘bbb+’ and E xtraordinary S upport L evel (ESL) of High. The Outlook for the ratings remain s Stable .
The Bank’s LT FCR is set two notches above the BSR to reflect the high like lihood of timely and sufficient extraordinary support from the government if needed, despite the low stake held by the latt er in the ANB’s capital. All Saudi domestic banks are considered a s systemically important banks, which play…