Entity Ratings Of SIBL

Rukhshan Mir (@rukhshanmir) Published October 14, 2016 | 06:50 PM

Entity ratings of SIBL

KARACHI, (UrduPoint / Pakistan Point News - 14th Oct, 2016 ) : JCR-VIS Credit Rating Company Limited (JCR-VIS) has placed ratings of `BBB+/A-2' (Triple B Plus/A-Two) assigned to Security Investment Bank Limited (SIBL) on the Rating Watch Developing status.

The previous rating action was announced on July 7, 2015, said press release here on Friday.

In a recent board meeting, it was decided that the company would continue as a non-deposit taking institution to comply with the minimum capital requirement (MCR).

As per the amended NBFC rules, a non-deposit taking financial institution must maintain a MCR of Rs 100 million. At end of June 2016, equity of the company stood comfortably above this level at Rs 519.5 million. The ratings would be reviewed once future business and financial plans were formalized.

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