Business Services Industry
SAUDI ARABIA: S&P RAISES RATING OF NCB.(Standard and Poor's, Saudi National Commercial Bank rating)(Brief Article)
IPR Strategic Business Information Database, May, 2003
According to Al-Hayat newspaper (May 19, 2003), the Standard and Poors Corporation (S&P), which specializes in banking and credit ratings, improved the credit ranking of the Saudi National Commercial Bank (NCB) from BB to BBB. The new ranking of the National Commercial Bank is the highest of its sort in the Saudi banking sector.
The S&P corporation announced that it had decided to grant a BBB ranking to the Saudi bank for rapidly growing net income recorded by the bank.
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