...Alinma Bank's `A-' Long-Term Issuer Default Ratings (IDRs) and 'AA(sau)' National Rating are driven by potential support from the Saudi authorities, as reflected by the bank's `a-' Government Support Rating (GSR). Alinma's GSR is in line with that of other Fitch-rated Saudi banks, reflecting Fitch Ratings' view on the Saudi authorities' strong ability and willingness to support domestic banks, irrespective of size, franchise, funding structure and level of government ownership. Alinma's Viability Rating (VR) reflects the bank's strong government links and Islamic status, adequate risk controls, solid profitability metrics and acceptable funding and liquidity profile. The VR also considers the bank's adequate capitalisation and less diversified business model than some of its domestic peers, and higher single-name and sector concentrations. Conflict Poses Operating Environment Risks: Fitch expects operating conditions to remain healthy for Saudi banks in 2026 despite the ongoing regional...
