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SABB's long-term deposit rating affirmed
- Saudi Arabia: Monday, December 31 - 2012 at 04:16
Moody's Investors Service has confirmed the Saudi British Bank's (SABB) long-term deposit ratings at 'Aa3' with 'Stable' outlook, Saudi Gazette has reported. The rating agency said its decision was driven by its observation of improvement in the bank's asset quality and profitability metrics. "SABB's solid overall financial fundamentals, deposit-funded profile, well-established local franchise across all of its main business lines and its franchise-enhancing with HSBC Holdings which supports SABB's systems, risk-management processes, management calibre and product range," Moody's said.
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