trending Market Intelligence /marketintelligence/en/news-insights/trending/rzde-4jr35sr9lwnui74ag2 content esgSubNav
In This List

Fitch downgrades Banque Saudi Fransi's viability rating

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Fitch downgrades Banque Saudi Fransi's viability rating

Fitch Ratings on May 24 downgraded to "bbb+" from "a-" the viability rating of Banque Saudi Fransi.

The action reflects a sharper-than-expected deterioration of the bank's asset quality and a revision in the agency's view of the bank's risk control framework. Still, the downgraded viability rating reflects the bank's strong corporate banking franchise, given that it is the second-largest corporate bank in Saudi Arabia, Fitch noted.

The action does not affect Banque Saudi Fransi's other ratings, the agency added.