Fitch Ratings has affirmed Saudi Hollandi Bank's (SHB) Long-term Issuer Default Rating (IDR) at ‘A-' with a Stable Outlook and its Viability Rating (VR) at ‘bbb'. The VR reflects SHB's improving asset quality and profitability and its established corporate franchise and sound liquidity. Net income for 2011 recorded strong y-o-y growth of 30.6 percent due to lower impairment charges rather than a significant increase in revenue. SHB's asset quality and the Saudi credit environment continued to improve in 2011 and much of SHB's end-9M11 impaired loans were classified before 2011. The bank's capital position is adequate but slightly below the average in Saudi Arabia. Increased equity will likely be required for expected loan growth in 2012 as well as to support high loan book concentrations. Growth in equity to date has been from retained earnings.