Saman Bank’s Ratings Affirmed with a Stable Outlook
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Summary
Ref: IR02419 CRA00-01 9 December 2020
Saman 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 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 in the intermediate term given the deteriorating operating environment in Iran. Key constraining factors include the Bank’s very low capital adequacy and severely impaired capital. Core profitability remains weak and is not sufficient to generate adequate capital…