Fitch affirms Banque Saudi Fransi

Fitch Ratings said it affirmed Banque Saudi Fransi's long-term issuer default rating at A and short-term issuer default rating at F1.

The outlook is stable.

The ratings reflect the bank's strong corporate franchise, close links to Credit Agricole Group (rated AA- with stable view) and healthy financials, including strong profitability, solid asset quality, good cost control and reasonable liquidity, Fitch said.

The ratings also reflect rapid loan growth, concentrations in loans and deposits and declining capital ratios, the agency said.

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