DUBAI (S&P Global Ratings) Aug. 3, 2022--S&P Global Ratings today corrected by assigning a stable outlook to the 'ksaAAA' Saudi Arabia national scale rating on Saudi National Bank. We also assigned a 'ksaA-1+' short-term national scale rating to Saudi National Bank. We should have assigned the outlook to the long-term national scale rating on Nov. 25, 2021, when we assigned the long-term national scale rating. The stable outlook on the long-term national scale rating reflects our expectation that Saudi National Bank will maintain solid capitalization while keeping risks associated with lending growth in check. We also expect that Saudi National Bank will sustain its underwriting standards, with minimal government interference, over the next 12-24 months. We could lower the long-term
