JS Bank Limited (JSBL) is a Pakistani commercial bank headquartered in Karachi. It operates as a subsidiary of Jahangir Siddiqui & Co. Limited (JSCL), a financial conglomerate in Pakistan The bank was established in April 2007 as a result of the merger of two banks, Jahangir Siddiqui Investment Bank Limited and American Express Bank. JS Bank Limited currently operates branches across Pakistan, as well as an international branch in Manama, Bahrain.[2]
The Pakistan Credit Rating Agency Limited (PACRA) maintains the long-term entity rating of JS Bank Limited (JSBL) to ‘'AA' (Double A). Meanwhile, short-term entity rating is maintained at ‘A1+’ (A One Plus).[3]
History
JS Bank origins began with the acquisition of Citicorp Investment Bank Limited by Jahangir Siddiqui & Co. Limited on 1 February 1999 to form Jahangir Siddiqui Investment Bank Limited (JSIBL). JSIBL had a 60% stake in Citicorp giving it ownership of the organization and its operations in Pakistan. In 2007, JSIBL and American Express Bank Limited