News 2006

July 2006

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The Highest among the Kingdom's Banks Capital Intelligence upgraded Samba's Long Term Foreign Currency Rating to A+

In its latest rating, Capital Intelligence has upgraded Samba's Long Term Foreign Currency Rating to A+ from A and is the highest in the Kingdom and its rating is also on par with Saudi Arabia's Sovereign long-term rating. Other ratings reaffirmed were Foreign Currency S/T: A1; Financial Strength: A+; Support 2; Outlook: Stable.

Mr. Eisa Al-Eisa, the Managing Director & CEO, was delighted with the ratings upgrade which recognizes the strength and soundness of the franchise, the outstanding progress made since transition and importantly the confidence stakeholders have in us.

All business and product segments were growing at an impressive rate and Samba's leadership and competitive presence is well established. He emphasized that Samba is extremely well positioned to take advantage of market opportunities, to build and grow sustainable shareholder value.

Mr. Al-Eisa added that our performance has been remarkably rewarded and recognized by several reputable world-wide institutions. We have been named "Best Bank in Saudi Arabia 2006" and "Best Investment Bank in Middle East & Africa 2006" by Global Finance Magazine; "Best Bank in Saudi Arabia 2006" and "Best Treasury Bank in the Middle East 2006" by Euromoney; as well as granted the Banker Technology Award 2006 from the Banker Magazine.