CI Affirms the Credit Ratings on JIB

Capital Intelligence Ratings (CI), the international credit rating agency, has affirmed Jordan Islamic Bank’s (JIB) Long and Short – Term Foreign Currency Ratings (FCRs) at BB- and B respectively with a negative outlook in line with the outlook for Jordan's sovereign FCRs as a result of the challenging  operating environment .The support level of "3" is affirmed and the bank's Financial Strength Rating (FSR) is maintained  at BBB- on a negative outlook. The report issued by the agency during December 2017 indicated that the continuation to affirm the credit rating on JIB is supported by the  bank's good asset quality, strong liquidity, good profitability, a diversified customer deposit base, the bank’s ability to establish Islamic banking franchise in Jordan and its continuation to control the lion’s share of Islamic banking assets and customer deposits in Jordan despite keen competition over the past years, its continuation to boast one of the lowest NPFs ratios in the local market, in addition to achieve a high Capital Adequacy Ratio (CAR). On this occasion, Mr. Musa Shihadeh, General Manager of JIB expressed how much pleased he is with the successful efforts exerted to achieve the bank’s strategy in maintaining good credit ratings despite the economic and political challenges surrounding the environment and their implications on the sovereign credit rating on Jordan .He stated that this rating asserts the worldwide interest in our bank’s performance and following up its achievements to maintain its distinguished banking status.