S&P affirms Jordan Islamic Bank rating, maintains stable outlook

جهينة نيوز - Rating agency Standard and Poor's (S&P) has affirmed Jordan Islamic Bank's (JIB), Jordan's largest Sharia-compliant banking institution, long- and short-term credit ratings at B+ and B respectively with a stable outlook.

According to a report issued by the Paris-based agency on Saturday, the credit ratings of Jordan Islamic Bank have been affirmed given the JIB's leadership in the Islamic banking market and strong market share as the largest Islamic financial institution and the third largest bank in the Kingdom.

The JIB maintains strong asset quality, high creditworthiness, resilience to economic challenges, a broad clientele base and a capital efficiency ratio of 23 percent, well above the 12.5-percent minimum threshold set by the Central Bank of Jordan, the report said.

Commenting on the report, Chief Executive Officer of the JIB, Hussein Saeed, said that the rating agency's affirmation of the bank's credit ratings is a testament to its ability to overcome various challenges and maintain the gains achieved, pledging that the bank will continue to pursue further achievements.