S&P Affirms the Credit Ratings of JIB

Standard & Poor’s Global Ratings  ( Paris ) affirmed its 'B+' 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- with stable outlook. The report issued by S&P indicated that JIB’s capability to maintain its market share and financial performance despite difficult economic conditions in Jordan has enabled it to keep its leading position as the largest Islamic financial institution in Jordan and the country’s third – largest bank  in terms of total assets ( $5.9 billion on Dec.31, 2017) with market shares in financing and deposits of about 12%-13%,in addition to its good business resiliency to the current adverse economic conditions in Jordan,  , adequate capitalization and liquidity , asset quality, sound earnings ,higher profitability than peers, ample core customer deposit base and wide geographical reach. However, JIB’s Capital Adequacy Ratio (CAR) reaches 23% , which is well above the 12.5% minimum set by the central Bank of Jordan. Commenting on the credit rating on the bank, Mr. Musa Shihadeh , CEO –General Manager of JIB expressed how much pleased he is with the bank’s continuation to obtain good credit ratings from worldwide institutions that follow our bank’s performance despite the political and economic conditions in the region , stressing on the continuation to make more efforts for more achievements.