Standard & Poor re-affirms its credit rating for Jordan Islamic Bank

S&P Global Ratings announced the re-affirmation of the credit rating of Jordan Islamic Bank with a stable outlook, and the fixing of the bank's credit ratings for long-term (B+) and short-term (B) and SACP at (bb-). Standard & Poor's stated in a press release that published," The ability of Jordan Islamic Bank to maintain its market share and stable financial performance despite the economic conditions in Jordan enabled it to maintain its leading position as the largest Islamic banking institution in Jordan. The report stated that its banking market share in Assets, Financings and Deposits reached 9%, 12% and 15% consecutively, in addition to the bank’s good flexibility in managing its business, having sufficient capital, liquidity, asset quality, sound profitability levels and stable profitability measures, in addition to the bank’s enjoyment of a wide and diversified customer base and a wide geographical spread ". Commenting on the announcement of this rating, Dr. Hussein Said, CEO/General Manager of Jordan Islamic Bank expressed his pride in the continuity of the Bank enjoying more attention at the global level through what major international companies in credit ratings give to follow up on our bank’s performance and it enjoys good credit ratings, and that this rating emphasizes the success of implementing the bank's strategy in dealing with various surrounding conditions and maintaining a distinguished banking position.