KSA’s Bank AlBilad assigned ‘Stable’ outlook by Moody’s

May 22, 2014 12:00 am

Moody’s Investors Service has assigned to Saudi lender, Bank AlBilad (BAB) local and foreign currency deposit ratings of A2/Prime-1 and a standalone bank financial strength rating (BFSR) of C, which is equivalent to a baseline credit assessment (BCA) of baa2, Saudi Gazette has reported. All ratings assigned to BAB carry a ‘Stable’ outlook, the credit rating agency said. “Moody’s assessment of Bank AlBilad’s franchise takes into account the growing importance of Islamic finance and associated franchise opportunities in the Kingdom of Saudi Arabia”, said Khalid Ferdous Howladar, Global Head of Islamic Finance at Moody’s Investors Service.