Leading domestic retail franchise and Islamic bank status. High systemic importance in Saudi Arabia. Strong capital and profitability metrics. Low geographic diversification. Less supportive economic environment. Structural maturity mismatches. S&P Global Ratings' stable outlook on Al Rajhi Bank (ARB) reflects our view that the bank's financial profile will remain resilient over the next 12-24 months. We are unlikely to downgrade ARB in the next 12-24 months. We would only take this action after a downgrade of Saudi Arabia and a downward revision of our assessment of the bank's intrinsic creditworthiness. We could consider taking the latter action if we saw: A further deterioration in Saudi Arabia's economic environment; A visible decline in the bank's capitalization, with its RAC ratio dropping
