Saudi Awwal Bank – Ratings Affirmed

Ref: SA 0 10 2 3 CRA00- 01 3 October 202 4

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

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 sovereign ratings: ‘A+’/ ‘A1’/Positive). All Saudi domestic banks are considered systemically important institutions that…