Safwa Islamic Bank − Ratings Assigned

Safwa Islamic Bank − Ratings Assigned

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has assigned Safwa Islamic Bank (SIB) a first time Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of ‘B+’ and ‘B’, respectively. At the same time, CI Ratings has assigned to SIB a Bank Standalone Rating (BSR) of ‘b+’, a Core Financial Strength (CFS) rating of ‘bb’, and an Extraordinary Support Level (ESL) of Moderate. The Outlook for the LT FCR and BSR is Stable.

The Bank’s BSR is derived from a CFS rating of ‘bb’ and an Operating Environment Risk Anchor (OPERA) of ‘b+’. OPERA takes into account both current and projected economic and financial conditions in Jordan, as well as the strengths and weaknesses of the banking sector. The CFS rating is supported by the Bank’s rapidly growing business franchise, with a good share of Islamic banking assets and…