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	169,824.77 156.09M	-0.37% -622.53
ALLSHR	102,832.48 369.16M	-0.15% -150.40
KSE30	51,637.89 86.65M	-0.37% -193.74
KMI30	242,269.16 27.48M	-0.76% -1844.45
KMIALLSHR	66,821.46 132.42M	-0.53% -355.17
BKTi	46,282.80 65.69M	0.45% 206.07
OGTi	33,801.32 2.02M	-0.47% -161.04

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	86,705.00	88,110.00 86,325.00	-1090.00 -1.24%
BRENT CRUDE	59.84	59.90 59.25	0.92 1.56%
RICHARDS BAY COAL MONTHLY	91.00	0.00 0.00	2.15 2.42%
ROTTERDAM COAL MONTHLY	95.75	0.00 0.00	-0.15 -0.16%
USD RBD PALM OLEIN	1,016.00	1,016.00 1,016.00	0.00 0.00%
CRUDE OIL - WTI	56.03	56.09 55.08	-0.79 -1.39%
SUGAR #11 WORLD	14.85	15.07 14.78	-0.10 -0.67%