Dubai Islamic Bank secures ‘A’ rating on account of high credit and asset quality: JCR-VIS

MG News | January 10, 2019 at 05:42 PM GMT+05:00

0:00

January 10, 2018: Upon review of final signed legal documents, JCR-VIS Credit Rating Company Limited (JCR-VIS) has assigned finalized rating of ‘A’ (Single A) to Dubai Islamic Bank Pakistan Limited’s (DIBPL) proposed Basel 3 compliant Additional Tier-1 Sukuk. Outlook on the assigned rating is ‘Stable’.

DIBPL has issued privately placed/ OTC Listed, perpetual, unsecured, subordinated, non-cumulative and contingent convertible Shariah compliant Sukuk amounting up to Rs. 3.12b. The issue proceeds will contribute towards the bank’s Additional Tier-1 (ADT-1) capital and will be utilized towards enhancement of the bank’s business operations.

JCR-VIS has assigned entity ratings of AA-/A-1+ (Double A Minus/A-One Plus) to DIBPL indicating high credit quality. The assigned ratings reflect the Bank’s sound asset quality indicators, strong & consistent profitability growth over the last three years and adequate liquidity and capitalization indicators.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	138,597.36 256.32M	-0.05% -68.14
ALLSHR	85,286.16 608.38M	-0.48% -413.35
KSE30	42,340.81 77.13M	-0.03% -12.33
KMI30	193,554.51 76.19M	-0.83% -1627.52
KMIALLSHR	55,946.05 305.11M	-0.79% -443.10
BKTi	38,197.97 16.53M	-0.59% -225.01
OGTi	27,457.35 6.73M	-0.94% -260.91

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	117,670.00	121,165.00 117,035.00	-1620.00 -1.36%
BRENT CRUDE	69.23	70.77 69.14	-0.29 -0.42%
RICHARDS BAY COAL MONTHLY	96.50	0.00 0.00	2.20 2.33%
ROTTERDAM COAL MONTHLY	104.50	104.50 104.50	-0.30 -0.29%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	66.03	67.54 65.93	-0.20 -0.30%
SUGAR #11 WORLD	16.79	17.02 16.71	0.05 0.30%