01 January 2012
Abu Alnasr: the rating reconfirms the strong and leading financial position of NCB

• The highest S&P rating in the Middle East and North Africa region

• The rating reflectsasolid financial grounding and an effective risk management strategy

Standard & Poor's has recently announced the National Commercial Bank'scredit rating at A+ with a stable future outlook. This evaluation was based on the new rating methodology that the agency adopted in comparing the credit rating of banks around the world. The news reassured the faith in the financial strength of NCB and is considered to be the highest credit ratingfor banks in theMiddle East North Africa region.

S&Phas also raised the standalone credit profile rating of NCB from a-to a, which furtheraffirmed the Bank's leading financial position, noting that this classification is also the highest in the MENA region, earned by only four banks in thisgeographic zone.

The agency reported that amongst thequalifiers that enabled NCB to achievesuchhigh ratingare its leading financial base,soundmanagement control and effective risk management strategy. The credit evaluation was based on a set of criteria that extends from the strength of returns and financials,to the diversity of income sources, toa proven ability in maintaininga robust level of liquidity.S&Pexpected NCB's strong performance to continue over the medium term.

Commenting on the news, Abdulkareem Abu Alnasr, CEO of NCB,explained that achieving thishigh global credit rating witha stable outlook from aninternationally recognized credit rating agency specialized in the financial services industry,confirms the strength of NCB's financial position, not only in terms of asset size but also quality,and this in turn showsthe Bank's leadership position at a local, regional as well as global level.

"Taking into consideration the challenges that faced the world's financial institutions in the past two years,this new classificationunderscores NCB's ability to sustain itsstrong performance, asset quality and high liquidity levels."Abu Alnasr said. He further pointed out that the Bank has decisively and successfully so capitalized onits strongsolvency andcapital base,which led it tooccupythe top rank in the Middle East region for the year 2011 in terms of Tier 1 Capital;the most important criteria in measuring the financial strength of banks, used in the annual ranking of the world's top 1000 banks by the Banker magazine.

Abu Alnasr indicated that NCB is determined to continue implementing the policies that kept its credit records healthy and at advanced positions in the Saudi banking sector. These policiesstrengthened the confidence thatthe international credit rating agencies have in NCBas one of the top and most prosperous banking institutions, noting that Capital Intelligence has announced earlier NCB's credit rating at AA-while Fitch ratings confirmedthe Bank's A+ classification.

Abu Alnasr concludedby commending the outstanding efforts of the Bank's management and employeesand the trust of all customers and shareholders which was pivotal to achieving such distinguished performance.

It's noteworthy that NCB has achieved a number of other international awards and prestigious titles throughout the year of 2011; these include: the "Best Bank in Saudi Arabia 2011" by Euromoney magazine, the best Islamic Bank 2011 in the Global Islamic Banking awards, the "Best Bank in Saudi Arabia 2011" presented by CPI Financial group, "the Best Islamic Finance Deal" by Asset magazine, the "Best Wealth Manager 2011" by CPI Financial group, the best provider of private banking services by Euromoney and for the sixth consecutive year, and an award for excellence in treasury operations by JP Morgan Chase.

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© Press Release 2012