CI Ratings affirms rating of Emirati, Jordanian banks

CAIRO – 28 July 2017: International agency CI Ratings affirmed its credit rating for UAE's Sharjah Islamic Bank (SIB) and Jordan Commercial Bank (JCB) on Thursday.
The Cyprus-based agency kept Financial Strength Rating (FSR) of SIB at ‘BBB+”, with a stable outlook, CI Ratings said in a research note.

The agency attributed the move to the bank’s strong capital adequacy ratio (CAR), good liquidity, moderately good operating profitability and return on average assets (ROAA), and improving coverage ratio.

As for the JCB, CI Ratings affirmed long-term and short-term Foreign Currency Ratings (FCRs) of the bank at 'BB-' and 'B'.

The same rating agency has given six Qatari banks negative outlook on potential risks. The six banks were the Qatar National Bank (QNB), Ahli Bank of Qatar, The Commercial Bank, Doha Bank, Qatar Islamic Bank and Qatar International Islamic Bank (QIIB).