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 . The Outlook on the LT FCR remains Stable. At the same time, CI Ratings has affirmed GIB’s Bank Standa lone Rating ( BSR ) of ‘bbb-’ with a Stable Outlook .

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 on the Public Investment Fund ’s (PIF) – the KSA sovereign wealth fund – 97% ownership of GIB, and the Saudi government’s…