Summary: The National Commercial Bank

Leading business position with some geographic diversification. Strong capitalization, supported by sound preprovision earnings capacity. Supportive funding and liquidity profile. Credit risks stemming from construction sector exposures in Saudi Arabia and operations in Turkey. High single-name concentration in the lending book. The stable outlook on Saudi Arabia-based The National Commercial Bank (NCB) reflects S&P Global Ratings' expectation that the bank's business and financial profiles will remain resilient over the next 12-24 months. We could raise our ratings on NCB over the next 12-24 months if the bank improves its asset quality indicators to peers' levels amid the less supportive local and Turkish operating environments. A downgrade of NCB seems unlikely in the next 12-24 months. However, it could occur if

...High single-name concentration in the lending book. Outlook: Stable The stable outlook on Saudi Arabia-based The National Commercial Bank (NCB) reflects S&P Global Ratings' expectation that the bank's business and financial profiles will remain resilient over the next 12-24 months. We could raise our ratings on NCB over the next 12-24 months if the bank improves its asset quality indicators to peers' levels amid the less supportive local and Turkish operating environments. A downgrade of NCB seems unlikely in the next 12-24 months. However, it could occur if we were to downgrade Saudi Arabia and the bank's capitalization drops significantly due to a sharp increase in dividend payouts or a spike in credit losses....

Summary