In a remarkable milestone showcasing its financial power, Housing Bank has been awarded a credit rating of Ba3 from the global credit rating agency, Moody’s Ratings. This upgrade sees an increase from the previous rating of B1, reflecting a stable outlook on the bank’s long-term deposit ratings.
The previous ranking of the bank has been linked to Jordan’s sovereign credit ratings, which was recently raised to Ba3 in a historic first for the Kingdom in 21 years.
On this occasion, the Chief Executive Officer of the bank, Ammar Al-Safadi, expressed his pride in such achievement, considering it an extension of the bank’s success journey, and proof of its commitment to providing the best banking solutions and distinguished services in a flexible and growing environment.
The CEO further added that a rating upgrade for the bank is an undeniable form of motivation to increase the efforts and continue working to inspire positive performance, continuously elevating to new levels of excellence.
The bank's credit rating improvement is supported by a strong capital based and liquidity buffers, in addition to maintaining high percentages of stable customer deposits. The new credit rating also reflects the bank’s conservative approach, which balances between booking additional reserves with asset quality. This demonstrates the bank’s flexibility in navigating economic conditions and the repercussions of geopolitical risks in the region.
