Safwa Islamic Bank’s Ratings Affirmed with a Stable Outlook

Ref: JO03120 CRA00- 0 1 29 April 2021

Safwa Islamic Bank ’s Ratings Affirmed with a Stable Outlook

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed Safwa Islamic Bank ’s (SIB) 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 affirmed SIB ’s Bank Standalone Rating ( BSR ) of ‘b+’, its Core Financial Strength ( CFS ) rating of ‘bb’ , and Extraordinary Support Level ( ESL ) of Moderate. The O utlook for the LT FCR and BSR remains 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 an d projected economic and financial conditions in Jordan, as well as the strengths and weaknesses of the banking sector. The ratings are supported…