Various Rating Actions Taken On Saudi Banks Following Sovereign Outlook Revision

On March 25, 2022, we revised our outlook on Saudi Arabia to positive from stable due to improving fiscal and economic growth dynamics. We expect a high likelihood of sovereign support to rated systemically important banks in Saudi Arabia: Al Rajhi Bank (ARB), Riyad Bank, Banque Saudi Fransi (BSF), and Arab National Bank (ANB). We therefore revised the outlook to positive on Riyad Bank, BSF, and ANB. The outlook on ARB remains positive. We affirmed our ratings on all four banks. DUBAI (S&P Global Ratings) March 29, 2022--S&P Global Ratings said today that it has taken the following rating actions on Saudi banks: Ratings affirmed: ARB (BBB+/Positive/A-2). Outlook revised to positive and ratings affirmed: ANB (BBB+/Positive/A-2), BSF (BBB+/Positive/A-2), and Riyad

...March 29, 2022 - On March 25, 2022, we revised our outlook on Saudi Arabia to positive from stable due to improving fiscal and economic growth dynamics. - We expect a high likelihood of sovereign support to rated systemically important banks in Saudi Arabia: Al Rajhi Bank (ARB), Riyad Bank, Banque Saudi Fransi (BSF), and Arab National Bank (ANB). - We therefore revised the outlook to positive on Riyad Bank, BSF, and ANB. The outlook on ARB remains positive. We affirmed our ratings on all four banks. DUBAI (S&P Global Ratings) March 29, 2022--S&P Global Ratings said today that it has taken the following rating actions on Saudi banks: - Ratings affirmed: ARB (###+/Positive/A-2). - Outlook revised to positive and ratings affirmed: ANB (###+/Positive/A-2), BSF (###+/Positive/A-2), and Riyad Bank (###+/Positive/A-2). These rating actions follow the outlook revision on the sovereign rating to positive from stable, which reflects our expectation that Saudi Arabia's improving GDP growth and fiscal...

Ratings Action