Standard & Poor's Rating Agency (S&P) revised its outlook for National Commercial Bank (NCB), Riyad Bank, Al-Rajhi Bank and Samba Financial Group to negative from stable.
Meanwhile, the rating agency affirmed the A+ long-term and A-1 short-term credit ratings for the four banks.
Earlier this month, S&P downgraded its outlook for the kingdom to negative as global oil prices continued to tumble. The agency said it expects that weak oil prices will eventually strain Saudi’s fiscal budget as the kingdom struggles to diversify its economy and reduce its dependency on oil.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}