Saudi British Bank (Sabb), which is 40%-owned by HSBC Holding, was downgraded to "reduce' from 'neutral' and had its 12-month price estimate cut to 51 riyals at Nomura International, Bloomberg has reported. 'The bank's risk-reward profile is skewed to the downside,' Nomura analysts said in a report. 'The bank is likely to be focusing on cleaning its loan book rather than expanding its balance sheet in 2010.'
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