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ATM & BranchesMoody's Confirms SABB’s Aa3 Long-Term Deposit Rating
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Moody's Investors Service, one of the world’s leading rating agencies, has confirmed The Saudi British Bank’s (SABB) “Aa3 long-term deposit ratings” with a stable outlook.
According to Moody's report, “SABB’s solid overall financial fundamentals, deposit-funded profile, well-established local franchise across all of its main business lines and its franchise-enhancing partnership with HSBC Holdings which supports SABB’s systems, risk-management processes, management caliber and product range.”
Moody's decision to confirm the ratings of Saudi British Bank at their current level was driven by the rating agency's observation of improvement in the bank's asset quality and profitability metrics.
Commenting on the affirmation, Abdullah Aloraini, Head of Accounting, Asset & Liability Management and Investor Relations at SABB, said: “We were delighted to see Moody’s latest confirmation and outlook report on SABB. Prudent managerial policies and care risk-management practices were resulted in this acknowledgement. We will certainly continue to apply careful measures to enhance the soundness of financial structure in the face of any possible challenges”.
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© SAB, Saudi Arabia. All Rights Reserved, 2024
Saudi Awwal Bank, a listed joint stock company, incorporated in the Kingdom of Saudi Arabia, with paid in capital of SAR 20,547,945,220, commercial registration certificate 1010025779, unified number 7000018668, Mailing Address: P.O. Box 9084, Riyadh 11413. National Address: 7383 King Fahad Branch Rd, 2338 Al Yasmeen Dist., 13325 Riyadh, Kingdom of Saudi Arabia, Tel. +966 11 4050677, www.sab.com, licensed pursuant to the Council of Ministers Resolution No. 198 dated 06/02/1398H and Royal Decree No. M/4 dated 12/08/1398H, and regulated and supervised by the Saudi Central Bank.