JS Bank Limited’s PACRA Upgrades Rating of JS Bank Limited
Karachi, June 27, 2012 (PPI-OT): This is to inform you that the Pakistan Credit Rating Agency (PACRA) has upgraded the long term entity rating of JS Bank Limited (JSBL) to “A +” (Single A Plus) (Previous: A), while maintaining the short-term entity rating at “A1″ (A One) (PACRA Press Release is enclosed).
These ratings denote a low expectation of credit risk while the capacity for timely payment of financial commitments is considered strong.
PACRA Upgrades Ratings of JS Bank Limited
The Pakistan Credit Rating Agency (PACRA) has upgraded the long term entity rating JS Bank Limited to “A +” (Single A Plus) (Previous: A), while maintaining the short-term entity rating at “A1″ (A One). These ratings denote a low expectation of Credit risk while the Capacity for timely.
The ratings reflect the bank’s sound financial profile emanating from improving profitability, strong liquidity and supporting capital adequacy. The bank’s strengthening franchise owing to its expanding branch network. Supported by a sound technological platforms is a key consideration. The bank is expensing its asset base. Which is currently being managed comfortably. However as the size of the Bank grows, a careful monitoring of related risks would require management’s active attention. Similarity building a quality loan book and effective deployment of funds via careful selection criteria would be critical, with transfer of relatively established asset management and brokerage businesses to bank as subsidiaries by its parent, JS Bank now posses significant potential to synergize and capitalize on in these domains. The ratings draw comfort from association with the JS Group.
About the Bank
JS Bank in Operations since December 2006, operators a network of 148 branches at end Mar 12, Listed on the Karachi Stock Exchange since 2007, it has three main business units: 1) Retail and Consumer banking ii. Corporate and Commercial banking and iii) Treasury and Investment, JSBL is a subsidiary of Jahangir Siddiqui and Company Limited (JSCL).
Mr. Jahangir Siddique, JS Group’s founder, chairs the bank’s seven member BoD (excluding the President/ CEO). Mr. Kalim-ur-Rehman, the President and CEO since July 2010, carries experience of close to five decades in international and domestic banking. He is supported by an able team.
For more information, Contact:
Muhammad Yousuf Amanuallah
JS Bank Limited
Shaheen Commercial Complex,
Dr. Ziauddin Ahmed Road
P. O. Box: 4847
UAN: +92 21 111 JS BANK (572-265)
Phone: +92 21 3227 2569-80
Fax: +92 21 3263 1803