Gulf International Bank B.S.C. - Fitch Research

Gulf International Bank B.S.C.

Gulf International Bank B.S.C. - Fitch Research
Gulf International Bank B.S.C.
Published Nov 13, 2019
14 pages (12289 words) — Published Nov 13, 2019
Price US$ 550.00  |  Buy this Report Now

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Brief Excerpt:

...Support Drives IDRs: Gulf International Bank B.S.C.'s (GIB) Issuer Default Ratings (IDRs) reflect a high probability of support from the Saudi authorities if needed, despite the bank being licensed and headquartered in Bahrain. The Public Investment Fund of Saudi Arabia (PIF), the investment arm of the Saudi sovereign, owns a 97.2% stake in GIB. IDRs Above Country Ceiling: GIB's IDRs are not capped by Bahrain's Country Ceiling. As GIB has limited local-currency (LC) debt, the Saudi authorities would only have to repay GIB's creditors in US dollars or Saudi riyals, in which they are cash rich. As most of GIB's liabilities are booked outside Bahrain, the Saudi authorities could repay GIB's creditors to their domicile country without transferring funds via Bahrain, should transfer and convertibility risks emerge. VR Above Sovereign Rating: GIB's Viability Rating (VR) reflects its competent management, adequate capitalisation and asset quality, strong liquidity and stable funding. It also considers...

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Full Rating Report

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Fitch Research. "Gulf International Bank B.S.C." Nov 13, 2019. Alacra Store. Dec 09, 2019. <>
Fitch Research. (2019). Gulf International Bank B.S.C. Nov 13, 2019. New York, NY: Alacra Store. Retrieved Dec 09, 2019 from <>
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