1040
1090
1120.O
1060
1010.O
1050.B
1030.B
1140.O
1180.O
1080.O
1020
Riyadh – Mubasher: Moody's Investors Service has assigned Counterparty Risk Ratings (CRR) to 11 Saudi banks.
The banks are: The Saudi Investment Bank (SAIB), Saudi British Bank (SABB), Samba Financial Group, Riyad Bank, National Commercial Bank (NCB), Bank Al-Jazira, Banque Saudi Fransi (BSF), Bank AlBilad, Alawwal Bank, Arab National Bank, and Al Rajhi Bank.
For SAIB, the ratings agency assigned an A2 local currency and foreign currency long-term CRR, above its adjusted Baseline Credit Assessment (BCA) of baa2, according to its new report.
Moody’s gave SABB, Samba Financial Group, Riyad Bank, BSF, Arab National Bank, AlBilad Bank, and National Commercial Bank (NCB) an A1 rating for local currency and foreign currency long-term CRR and P-1 for local currency and foreign currency short-term CRR.
“Al Rajhi Bank local currency and foreign currency long-term Counterparty Risk Ratings [is] A1, two notches above its adjusted BCA of a3, [while] local currency and foreign currency short-term [CRR is] P-1,” the ratings agency added.
Moody’s assigned an A3 CRR for Bank Al-Jazira’s rating of long-term local currency and foreign currency and P-2 for short-term local currency and foreign currency CRR.
These ratings actions follow Moody’s amendment of its banks rating methodology on Wednesday, 6 June.