Report title: Credit Update on National Commercial Bank
from Fitch Research
1 page (2443 word) report published Aug 06, 2008

Price $165.00 available for immediate download
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...National Commercial Bank s (NCB) Long\## and Short\##Term IDRs and Support Rating reflect the probability of support from the Saudi authorities. The Individual Rating reflects its leading domestic franchise, strong profitability and sound capitalisation. It also considers the risks inherent in the Saudi operating environment and concentrations on both sides of the balance sheet. Profitability remains strong due to an increase in core business volumes. However, net income in #### suffered from a drop in stock market related income and some impairment charges on the securities portfolio. Asset quality is still adequate despite an increase in the absolute levels o f NPLs. Large write\##offs and strong loan growth in #### aided asset quality ratios to persist at comfortable levels with NPLs/gross loans at #.#% and a coverage ratio of ###%. Market risks mainly arise from FX, commission (interest) rate and securities. Additional...

Report Type: Credit Update
Company(ies): The National Commercial Bank
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