Majority ownership by the Saudi government. Leading domestic commercial position. Strong liquidity. Solid revenue-generating capability and capitalization. Concentration risks in the lending book and funding base. Exposure to market risk. Potentially volatile operating environment. The ratings on Saudi Arabia-based The National Commercial Bank (NCB) reflect Standard&Poor's Ratings Services' view of the bank's majority ownership by the Saudi government, leading domestic commercial position, strong liquidity, and solid revenue generating capability and capitalization. Partly offsetting these positive factors are the bank's concentration risks in its lending book and funding base, exposure to market risk, and volatile operating environment. The long-term rating on NCB is two notches higher than our assessment of the bank's stand-alone credit profile. This reflects Standard&
