Riyadh – Mubasher: Moody's has assigned a management quality assessment of MQ1 to NCB Capital, National Commercial Bank's unit (NCB).
The international credit agency ascribed its decision to NCB Capital’s sophisticated investment process and professional team, along with its very clear corporate strategy, according to an official statement.
“The assessment is also based on a strong market position supported by its parent company, National Commercial Bank (A1 stable). Conversely, fiscal and geopolitical risks pose challenges and the firm faces limited geographical diversification by both client domicile and asset class,” Moody’s stated.
Moody's labelled NCB Capital's investment management activities as excellent, basing its judgment on the Saudi-based company’s disciplined and structured investment process and its strong risk management procedures and controls.
“NCB Capital's funds have shown adequate risk-adjusted performance relative to local benchmarks and peers. The firm's funds are positioned in the second quintile for all asset classes,” the New York-based rating corporation revealed.
