Fitch affirms 6 Saudi banks at 'BBB+', revises outlook to Stable

Fitch Ratings affirmed its credit rating for six Saudi banks at ‘BBB+’, with a revised outlook from Negative to Stable.

The banks are Arab National Bank (ANB), Banque Saudi Fransi (BSF), Alinma Bank, Saudi Investment Bank (SAIB), Bank Aljazira (BAJ), and Gulf International Bank - Saudi Arabia (GIB SA).

Fitch assessment was based on the possibility of these banks obtaining support from the state if needed, according to a recent report.

This rating follows a similar action on Saudi Arabia's sovereign rating in mid-July.