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Thu 14 Dec 2017 26 Rabia al-Awwal 1439H

S&P Affirms the Credit Ratings of JIB

Date: 
2017-09-26

 Standard & Poor’s Global Ratings  ( Paris ) affirmed its 'BB-' long-term and 'B' short-term counterparty credit ratings on Jordan Islamic Bank (JIB) and assessed JIB’s Stand – Alone Credit Profile (SACP) at bb- and outlook remains negative which mirrors the negative outlook on Jordan.

The report issued by S&P indicated that the continuation to grant JIB these ratings is due to its leading position as the largest Islamic financial institution in Jordan with market shares in financing and deposits of about 11%-13% as of Dec. 31, 2016, its good business resiliency to the current adverse economic conditions in Jordan, its capitalization has improved to an adequate level , adequate liquidity , asset quality, sound earnings ,steady profitability metrics compared with peers over the past five years ;where return on equity above 16% over that period and ample core and granular customer deposits.

Mr. Musa Shihadeh , CEO –General Manager of JIB said granting our bank these ratings which in line with the credit rating of Jordan asserts the safety of the strategic plan we follow to maintain what we have achieved and how to deal with different challenges with the continuation to exert more efforts to achieve growth in various indicators and stay at the forefront of banking institutions.