CI affirms stable outlook for Investbank
Amman, May 10, 2011
Capital Intelligence (CI), the international credit rating agency, has affirmed stable outlook for Jordan-based Investbank.
CI has affirmed the bank's long term and short term foreign currency ratings of “BB” and “B” respectively. These ratings are constrained by CI’s sovereign ratings for Jordan. The agency also maintained the bank’s financial strength (FSR) at “BB+” and Support Level “3”, the latter reflecting the high likelihood of official support in case of need.
The bank’s liquidity position remains very comfortable, in common with other Jordanian banks, reflecting the relatively small share of loans in total assets combined with a sizeable pool of liquid assets. Funding is comprised largely of customer deposits. The bank’s balance sheet has been consistently well capitalised, benefiting from a conservative dividend policy and in recent years, the retention of full earnings, a statement said.
Investbank ranks among the small-sized institutions in terms of total assets and customer deposits in the Jordanian banking sector.-TradeArabia News Service