...Banque Saudi Fransi's (BSF) `A-' Long-Term Issuer Default Ratings (IDRs) are driven by potential support from the Saudi authorities, as reflected by its Government Support Rating (GSR) of `a-'. BSF'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 state ownership. BSF's Viability Rating (VR) reflects the bank's reasonable domestic franchise with good market shares, especially in the corporate segment. It also reflects BSF's sound capitalisation, funding and liquidity, reasonable asset-quality metrics and adequate profitability, balanced by high concentration risks. The bank's National Rating is driven by potential support from the Saudi authorities. Conflict Poses Operating Environment Risks: Fitch expects operating conditions to remain healthy for Saudi banks in 2026 despite the ongoing regional military...
