Riyad Bank

Who's Talking to Whom as Record #Merger Wave Shakes Up Gulf Banks

Bloomberg provides an overview of which lenders are in merger talks and where those conversations are at. Talks are underway in Abu Dhabi for a possible tie-up between Abu Dhabi Islamic Bank with First Abu Dhabi Bank, a merger that would create one of the Middle East’s largest lenders. Saudi Arabia’s biggest lender National Commercial Bank said at the end of 2018 that it’s starting initial talks with Riyad Bank. This deal would form the Gulf’s third-biggest lender. Dubai’s largest bank Emirates NBD is buying Turkey’s Denizbank for $2.8 billion. The three-way merger of Abu Dhabi Commercial Bank, Union National Bank and Al Hilal creates the fifth-biggest lender in the Gulf.

Fitch downgrades seven Saudi Arabian banks; revises outlook of four others to negative

Fitch Ratings has downgraded the Long Term Issuer Default Ratings (LT IDRs) of seven Saudi Arabian banks. The affected banks are Al Rajhi Bank (ARB), National Commercial Bank (NCB), Riyad Bank (RB), SAMBA Financial Group (SAMBA), Saudi British Bank (SABB), Banque Saudi Fransi (BSF) and Arab National Bank (ANB). At the same time Fitch has revised the Outlooks on Saudi Hollandi Bank (SHB), Saudi Investment Bank (SAIB), Alinma Bank (Alinma) and Bank Aljazira (BAJ) to Negative from Stable, while affirming their ratings.

Fitch Downgrades 3 Saudi banks To Negative, Low Oil Prices Hobble Growth

The long-term issuer default ratings of Saudi British Bank, Banque Saudi Fransi and Arab National Bank were revised to negative from stable
Ratings agency Fitch has downgraded the outlooks on 3 Saudi Arabian banks as low Crude Oil prices continue to plague the Kingdom’s economy.
The long-term issuer default ratings of Saudi British Bank, Banque Saudi Fransi and Arab National Bank were revised to negative from stable, Fitch said in a statement.
The revision was based on the tougher operating environment facing the Saudi Arabian banking sector, mainly due to the effect of lower Crude Oil prices on government spending and the filter down effect this has on the rest of the economy.

Fitch revises outlook on four Saudi Arabian banks to negative

Fitch Ratings has revised the Outlooks on Al Rajhi Bank (ARB), National Commercial Bank (NCB), Riyad Bank (RB) and SAMBA Financial Group (SAMBA) to Negative from Stable. The revision of the banks' Outlooks to Negative reflects that their Long-term Issuer Default Ratings (IDR) are at the Support Rating Floor (SRF) for Saudi domestic systemically important banks (D-SIB) of 'A+'. This would be revised down to 'A' in the event of a one-notch downgrade of the Saudi sovereign. The Saudi banks' Support Ratings (SRs) and SRFs reflect the extremely high probability of support from the Saudi authorities, if required. Upward potential for the ratings is limited in light of a weakening sovereign and operating environment.

Saudi Tasnee gets $1.06bn Islamic loan

Saudi Arabia's National Industrialization Company (Tasnee) has signed a sharia-compliant loan facility worth SR4 billion ($1.06 billion) with seven Saudi banks and Emirates NBD. The Saudi banks which contributed are Riyad Bank, Al Rajhi Bank, Bank Al Bilad, Saudi British Bank, Samba Financial Group, Banque Saudi Fransi and Saudi Investment Bank. The financing, signed on Sunday, will be repaid in eight years including a one-year grace period. The loan, which was covered 1.5 times, will finance the company's stakes in future projects and refinance existing loans.

Sipchem affiliate signs Shariah compliant SR1.4 bln loan deal for petrochem

International Polymers Company (IPC), hastaken signed a Shariah compliant SR1.4 bln (US$373 mln) loan from Saudi banks, Riyad Bank, National Commercial Bank, Saudi Hollandi Bank, and The Saudi British Bank.
The funds will sustain the project financing of a production plant currently being built in Jubail Industrial City.

APICORP raises SR2.5bn from four Saudi banks

Arab Petroleum Investments Corporation (APICORP) successfully closed a three-year SR2.5 billion ($667 million) syndicated Shariah-compliant facility from four leading Saudi Arabian banks on competitive market terms.
The purpose of the facility is the retaining and increasing of its medium term funding.
Mandated lead arrangers for the facility will be leading Saudi banks Riyad Bank, Al-Rajhi Bank, Banque Saudi Fransi and The Saudi British Bank, while Riyad Bank will perform the role of Murabaha Facility Agent.

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