...Riyad Bank's (RB) `A-' Long-Term Issuer Default Rating (IDR) is driven by potential support from the Saudi Arabian authorities, as reflected by the bank's Government Support Rating (GSR) of `a-'. RB's GSR is in line with that of other Fitch-rated Saudi banks, reflecting Fitch Ratings' view of the Saudi authorities' strong ability and willingness to support domestic banks irrespective of size, franchise, funding structure and level of government ownership. RB's VR reflects the bank's well-established business profile, good profitability, good asset quality, healthy funding and liquidity, and adequate capitalisation. It also captures high deposit concentration. The bank's National Rating reflects its creditworthiness relative to other Saudi Arabian issuers and is driven by potential support from the Saudi authorities. Favourable Operating Environment: High government spending, the government's strategy to diversify the economy as part of its Vision 2030 and healthy non-oil GDP growth provide...
