...Standalone Strength Drives IDRs: SAMBA Financial Group's Issuer Default Ratings (IDRs) are driven by its standalone creditworthiness, as indicated by its Viability Rating (VR). They are also underpinned by an extremely high probability of support from the authorities in Saudi Arabia, if required. SAMBA's VR is highly influenced by its strong capitalisation. The VR also reflects the bank's solid franchise, strong liquidity, sound asset quality and earnings in line with peers'. In addition, the VR considers the benign domestic operating environment and high balance sheet concentration. Strong Capitalisation: SAMBA's Fitch Core Capital (FCC) ratio was 21.6% at end-1H18, one of the highest in the sector. Capital is supported by measured loan growth, solid earnings and a large portfolio of 0% weighted government securities. Solid Corporate Banking Franchise: SAMBA is one of the Kingdom's leading corporate banks with a market share of 10% of domestic credit. SAMBA's retail franchise is developing...
