Fitch's announcement confirmed the same classification of the bank by Standard & Poor's last April, rating the bank at A+ which is considered the highest credit ratings in the Kingdom's banking industry.
The Chief Executive Officer of NCB, Abdulkareem Abu Alnasr commented on the news by stating that Fitch's evaluation is an objective indicator of the strong financial position of NCB and is a natural reflection of the bank's asset quality, high liquidity and its financial leadership on a local and regional level.
He explained that NCB's consistency in operating on sound banking foundations in terms of focus on risk management maintained the degree of credit rating that NCB achieved in the view of specialized international agencies.
Abu Alnasr concluded his comment by praising the outstanding efforts exerted by the Bank's administration and staff who aim at continuously developing and improving the products and services offered to customers. He also expressed his appreciation and gratitude to the constant support of the bank's customers and shareholders.
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National Commercial Bank maintains its credit rating at A+
- Saudi Arabia: Sunday, July 26 - 2009 at 10:17
- PRESS RELEASE
Fitch Ratings has recently affirmed the National Commercial Bank's Stable Outlook and Long-term Issuer Default Rating (IDR) at 'A+'.
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Notes and media contacts
For more information, please contact:Ghassan Hussein Badkook
Manager
Corporate Public Relations Department
The National Commercial Bank
P.O. BOX 3555, Jeddah 21481
Kingdom of Saudi Arabia
T: +966 (2) 646-3252
F: +966 (2) 644-6468
Posted by Rana MesbahSunday, July 26 - 2009 at 10:17 UAE local time (GMT+4)
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