Riyadh – Mubasher: Capital Intelligence (CI) Ratings has affirmed its ratings for Banque Saudi Fransi (BSF) at “A+”, with a “Stable” outlook.
The rating agency has also kept the long- and short-term foreign currency ratings (FCRs) at “A+” and “A1”, respectively.
Capital Intelligence noted that the financial strength rating (FSR) has been affirmed at "A+", according to a statement.
“The rating is supported by the bank's very sound liquidity ratios, low reliance on short-term funding, very sound capital ratios, solid cost control, and the ongoing support from its strong principal shareholder, a unit of the Crédit Agricole Group,” the agency stated.
The report highlighted that last year most of the Saudi banks had lost customer deposits, but BSF had reversed the trend by increasing customer deposits at the fastest rate among all banks in the peer group.
