KARACHI - The Pakistan Credit Rating Agency (PACRA) has upgraded the long-term entity rating of JS Bank Limited (JSBL) to ‘A+’ (Single A Plus), says a Press release.
These ratings denote a low expectation of credit risk, while the capacity for timely payment of financial commitments is considered strong. It also reflects the bank’s sound financial profile emanating from improving profitability, strong liquidity and supporting capital adequacy. The bank’s strengthening franchise owing to its aggressively increasing branch network, supported by a sound technological platform was also among some of the key considerations along with its expanding asset base, which is currently being managed comfortably.
With the transfer of relatively established asset management and brokerage businesses to JS bank - as subsidiaries – It now possesses significant potential to synergize and capitalize on in these domains. The ratings draw comfort from its close association with the ever strengthening JS Group.
JS Bank is considered amongst the fastest growing banks within the Pakistan’s banking landscape with the support of its vast experienced management. The Bank now has an online network of 148 branches and expanding in 80 cities across Pakistan and it has three main business units; Retail and Consumer banking, Corporate and Commercial banking and Treasury and Investment banking. In its unrelenting effort to provide high quality products and services, JS Bank continues to pursue the path of innovation and excellence.