Riyad Bank – Rating s Affirmed with a Stable Outlook

Ref: SA 0 08 2 3 CRA00- 01 9 May 202 4

Riyad Bank – Rating s 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 Riyad Bank ( RB ) at ‘A+’ and ‘A1’, respectively. At the same time, CI Ratings has affirmed RB ’s Bank Standalone Rating ( BSR ) of ‘bbb+’, Core Financial Strength ( CFS ) rating of ‘bbb+’ , and Extraordinary Support Level ( ESL ) of High. The Outlook for the LT FCR and BSR remains Stable.

The Bank’s LT FCR is set three notches above the BSR to reflect the high likelihood of timely and sufficient extraordinary support from the government in case of need (KSA sovereign ratings: ‘A+’/‘A1’/Positive). Moreover, RB’s largest shareholder is the government, with an aggregate shareholding of over…