Summary: The National Commercial Bank

Leading business position with some geographic diversification. Strong capitalization, supported by sound pre-provision earnings capacity. Supportive funding and liquidity profile. Concentration risks in the lending book. Increasing credit risks stemming from operations in Turkey. S&P Global Ratings' stable outlook on Saudi Arabia-based The National Commercial Bank (NCB) primarily reflects its view that the bank's business and financial profiles will remain resilient over the next 12-24 months. A downgrade of NCB appears unlikely in the next 12-24 months because it would follow a simultaneous downgrade of Saudi Arabia, if one were to occur, and a downward revision in our stand-alone credit profile (SACP) assessment for the bank. We could lower the bank's SACP if we saw a decrease in the bank's

...Increasing credit risks stemming from operations in Turkey. Outlook: Stable S&P Global Ratings' stable outlook on Saudi Arabia-based The National Commercial Bank (NCB) primarily reflects its view that the bank's business and financial profiles will remain resilient over the next 12-24 months. A downgrade of NCB appears unlikely in the next 12-24 months because it would follow a simultaneous downgrade of Saudi Arabia, if one were to occur, and a downward revision in our stand-alone credit profile (SACP) assessment for the bank. We could lower the bank's SACP if we saw a decrease in the bank's capitalization, with our risk-adjusted capital (RAC) ratio, S&P Global Ratings' measure of a bank's capital, dropping below 10% or a material deterioration in the bank's asset quality indicators. Although unexpected at this stage, we would raise our ratings on NCB over the next 12-24 months if it demonstrated staunchly resilient asset quality indicators, with lower credit losses than peers, or our RAC...

Summary