Fitch Ratings has affirmed Jordan Islamic Bank’s (JIB) Long-term Issuer Default Rating (IDR) at ‘BB-’ with a Stable Outlook, Short-term IDR at ‘B’ and Viability Rating at ‘bb-’.
JIB’s IDRs are driven by the Viability Rating. The affirmation reflects the bank’s solid domestic franchise (JIB is the domestic market leader in Islamic banking in Jordan), strong liquidity and healthy profitability. The ratings also take into account the difficult domestic (and regional) operating environment, high financing book concentrations and capitalisation that typically lags the sector average. (Press Release)