Karachi: The Pakistan Credit Rating Agency (PACRA) has upgraded the long-term entity rating of JS Bank Limited (JSBL) to “A+” (Single A Plus) from previous “A” while maintaining the short-term entity rating at “A1” (A One).
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 platform is a key consideration.
The bank is expanding its asset base, which is currently being managed comfortably. However, as the size of the hank grows, a careful monitoring of related risks would require management’s active attention. Similarly, the building a quality loan book and effective deployment of funds “in 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 possess significant potential to synergize and capitalize on in these domains.
These ratings denote a low expectation of credit risk while the capacity for timely payment of financial commitments is considered strong. It draws comfort from association with the IS Group.
JS Bank Limited, in operations since December 2006, operates a network of 148 branches at end-March 201 2. Listed on the Karachi Stock Exchange since 2007, it has three main business units including Retail and Consumer banking, Corporate and Commercial banking and Treasury and Investment banking.
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