BAHRAIN

The Pak Banker - - FRONT PAGE -

JS Bank has been granted a whole­sale bank­ing li­cense by the Cen­tral Bank of Bahrain (CBB) for branch oper­a­tions in Bahrain.

This will be the JS Bank's first branch out­side Pak­istan and in ad­di­tion to build­ing upon the ex­ist­ing re­la­tion­ship with the Mid­dle East and North Africa Re­gion (MENA) re­gion; the branch will fa­cil­i­tate busi­ness for re­gional cor­po­rates, ex­pa­tri­ates, Gov­ern­ment of Pak­istan or­ga­ni­za­tions and any Pak­istani banks that do not have a pres­ence in the re­gion. Com­ment­ing on this ex­pan­sion Khalid Im­ran, Pres­i­dent, JS Bank said, "This is an im­por­tant mile­stone for JS Bank. Bahrain has al­ways been a strate­gic hub for fi­nan­cial in­sti­tu­tions and our pres­ence there will con­trib­ute to­wards fur­ther strength­en­ing fi­nan­cial ties and en­hanc­ing trade and busi­ness".

The Bank has grown from strength to strength since in­cep­tion and its fi­nan­cials; credit rat­ings along with the highly ex­pe­ri­enced team are a true tes­ta­ment to its sta­bil­ity and abil­ity to achieve its long term goals.

Mr. Ahmed Al-Bas­sam, Di­rec­tor of Li­cens­ing & Pol­icy, Bahrain, wel­comed JS Bank's de­ci­sion to open a branch in Bahrain and was con­fi­dent that this ad­di­tion to the Bank's net­work would have a pos­i­tive ef­fect on the re­la­tion­ship be­tween Pak­istan and the MENA re­gion.

JS Bank is com­mit­ted to sup­port­ing eco­nomic growth in the coun­try and is one of the fastest grow­ing banks in Pak­istan. JS Bank, in oper­a­tions since De­cem­ber 2006, op­er­ates a net­work of 238 branches in 122 cities na­tion­wide at the end-Dec14 and has been listed on the Karachi Stock Ex­change since 2007. JS Bank has been as­signed a rat­ing of A1+ / A+ by Pak­istan Credit Rat­ing Agency Lim­ited (PACRA). The bank has four core ar­eas of ser­vice: re­tail and con­sumer bank­ing, trea­sury, cor­po­rate and com­mer­cial bank­ing and in­vest­ment bank­ing.

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