Gulf International Bank’s Ratings Affirmed

Gulf International Bank’s Ratings Affirmed

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the L ong- Term F oreign C urrency R ating (LT FCR) and S hort- T erm F oreign C urrency R ating (ST FCR) of Gulf International Bank (GIB) at ‘A+’ and ‘A1’, respectively . T he Outlook for the LT FCR is affirmed at Stable, commensurate with the Stable Outlook for the Kingdom of Saudi Arabia’s LT FCR. At the same time, CI Ratings has affirmed GIB’s Bank Standalone Rating ( BSR) of ‘bbb-’, with a Stable Outlook, Core Financial Strength (CFS) rating of ‘ bbb- ’, and Extraordinary Support Level (ESL) of Very High.

The Bank’s LT FCR is set five notches above the BSR to reflect the very high likelihood of extraordinary support from the Kingdom of Saudi Arabia (‘A+’/ ‘A1’/ Stable) in case of need. This is based…