Saman Bank’s Ratings Affirmed with a St able Outlook

Ref: IR02420 CRA00-01 8 December 2021

Saman Bank’s Ratings Affirmed with a St able 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 Saman Bank (SB) at ‘B-’ and ‘B’, respectively. At the same time, CI Ratings has affirmed SB’s Bank Standalone Rating (BSR) of ‘b- ’ and Core Financial Strength (CFS) rating of ‘b- ’. The Outlook for the LT FCR and BSR remains Stable .

The ratings reflect the Bank’s weak financial profile and CI’s expectation that key credit metrics are unlikely to improve significantly in the intermediate term given the worsened operating environment in Iran. Key constraining factors include the Bank’s very low capital adequacy and severely impaired capital base . While net profitability has improved in recent years, backed…