Saudi Aww al Bank – Rating s Affirmed

Ref: SA 0 10 2 2 CRA00- 01 5 October 202 3

Saudi Aww al Bank – Rating s Affirmed

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 Saudi A wwal Bank (SAB), previously known as Saudi British Bank, at ‘A’ and ‘A 2 ’, respectively. The Outlook for the LT FCR remains Positive . At the same time, CI Ratings has affirmed SA B ’s Bank Standalone Rating ( BSR ) of ‘bbb + ’ with a Stable Outlook , its Core Financial Strength ( CFS ) rating of ‘bbb + ’ , and Extraordinary Support Level ( ESL ) of High.

The Bank’s LT FCR is set two notches above the BSR to reflect the high likelihood of timely and sufficient extraordinary support from the government if needed (Saudi Arabia sove reign ratings: ‘A+’/ ‘A1’/Positive ). All Saudi domestic…