Fitch affirms 6 Saudi banks at 'BBB+', revises outlook to Stable
27/07/2021
Argaam
Fitch Ratings affirmed its credit rating for six Saudi banks at ‘BBB+’, with a revised outlook from Negative to Stable.
The banks are Arab National Bank (ANB), Banque Saudi Fransi (BSF), Alinma Bank, Saudi Investment Bank (SAIB), Bank Aljazira (BAJ), and Gulf International Bank - Saudi Arabia (GIB SA).
Fitch assessment was based on the possibility of these banks obtaining support from the state if needed, according to a recent report.
This rating follows a similar action on Saudi Arabia's sovereign rating in mid-July.
Market Indices
TASI
10,878.46
13.89
0.13 %
Quotes
ANB
23.04
0.28
1.23%
BJAZ
11.83
(0.09)
(0.76%)
BSF
21.71
0.31
1.45%
SAIB
14.84
0.06
0.41%
ALINMA
24.84
0.07
0.28%
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