The Saudi Investment Bank – Ratings Affirmed with a Stable Outlook
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Summary
Ref: SA 01319CRA00-01 7 July 2020
The Saudi Investment Bank – 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 The Saudi Investment Bank ( SAIB ) at ‘A-’ and ‘A 2 ’, respectively . At the same time , CI Ratings has affirmed SAIB’s B ank S tandalone R ating (BSR) of ‘ bbb ’, C ore F inancial S trength (CFS) rating of ‘ bbb -’ and E xtraordinary S upport L evel (ESL) of High. The Outlook for the LT FCR and BSR remain s Stable.
The Bank’s LT FCR is set two notches above the BSR to reflect the high likelihood of timely and appropriate extraordinary support from the government if needed. Moreover, SAIB’s largest shareholders are governmental , with an aggregate shareholding of around 40 % . Saudi…