Riyadh – Mubasher: Moody's Investors Service (Moody's) has assigned Banque Saudi Fransi's national scale ratings (NSRs) for the long-and short-term deposit ratings at 'Aa2.sa/SA-1' and the long and short-term counterparty risk ratings (CRRs) at 'Aa1.sa/SA-1'.

The ratings were attributed to the bank's global scale long-term deposit rating of 'A2', which reflects a standalone baseline credit assessment of 'baa1' and two notches of government support uplift, according to a recent press release.

In addition, the bank's 'Aa2.sa' NSR long-term deposit rating shows its sound profitability driven by a well-established corporate banking franchise, strong asset quality, sound capital adequacy, and deposit-funded profile.

It is noteworthy to mention that during the first three months (3M) of 2022, the bank reported a 12.17% year-on-year (YoY) increase in net profits to SAR 875 million, compared to SAR 780 million.