Fitch affirms Saudi Investment Bank

Fitch Ratings said it affirmed the Saudi Investment Bank's long-term issuer default rating at A- and short-term issuer default rating at F2.

The outlook is stable.

The ratings reflect the high probability of support from the Saudi authorities in case of need given the regulator's strong history of support for local banks, as well as the Saudi government's 38.8% stake in the bank via related entities, Fitch said.

The ratings also consider the bank's new strategy and adequate liquidity and capital position, the agency said. The ratings are constrained by its small franchise, high loan and deposit concentrations and weakened asset quality indicators, Fitch added.

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