RIYADH: No Saudi banks were lost during the financial crisis of 2008/9 and the financial sector is again in a strong position as it faces the economic fallout from the Covid-19 pandemic, according to Saudi Central Bank Governor Fahad Almubarak. The central bank, also known as SAMA, has been and continues to be strict in … Read more
LIMASSOL: Moody’s Investors Service affirmed the long-term deposit ratings of the nine banks it rates in Saudi Arabia, as well as the senior unsecured and subordinated debt ratings of their affiliated entities, where applicable, Arab News quoted the rating agency, as saying, in a statement. At the same time, Moody’s changed the outlook on the long-term deposit … Read more
CAIRO: Fitch Ratings agency revised outlook for Saudi banks, as it said the impact of the pandemic on their performance has been contained, Arab News reported. The agency said in a note that it revised the outlooks on all Saudi banks’ Long-Term Issuer Default Ratings to “Stable” in second and third quarter of this year to “reflect … Read more
RIYADH: Fitch Ratings has revised six Saudi Arabia’s banks’ outlooks to stable from negative and affirmed the Foreign Currency and Local Currency Long-Term Issuer Default Ratings (IDRs) at ‘BBB+’. Fitch’s assessment considers the authorities’ strong ability to support the banking system, given large, albeit reduced from their historical levels, external reserves. It also reflects a long … Read more
