Riyadh City

Moody’s affirmed its credit rating for nine Saudi banks, and upgraded its outlook on their long-term deposit ratings to Stable from Negative.

 

Moody's said in a report that its decision to affirm the credit ratings of Saudi banks reflects the resilience in their financial performance, despite continuing pressure from the pandemic. It added that the banks have managed to maintain strong asset quality and capital buffers and their liquidity buffers remain solid.

 

It also said that upgrading the banks’ outlook to Stable from Negative reflects the resilience in the Kingdom's operating environment and the expectation that the government support for banks remains intact.

 

The following table shows the credit rating of Saudi banks, according to Moody's:

 

Moody’s Credit Rating of Saudi Banks

Bank

Rating

Outlook

Saudi National Bank

A1

Stable

Al Rajhi Bank

A1

Stable

Riyad Bank

A2

Stable

Banque Saudi Fransi

A2

Stable

Arab National Bank

A2

Stable

Bank Albilad

A3

Stable

Saudi Investment Bank

A3

Stable

Bank AlJazira

Baa1

Stable

Gulf International Bank

Baa1

Stable

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