It is with deep sorrow and regret that JS Bank announces the loss of our colleague

Mohammad Ateeq – Service Quality team member (North) Islamabad.

who was on board the ill-fated PK-661 that crashed on Wednesday, 7th December, 2016.

May all rest the departed soul in eternal peace and enable the beloved ones to bear the loss with patience and fortitude. (Ameen)

We also extend our heartfelt condolences to the families of the other victims of this tragic plane crash.

Inna Lillahe Wa Inna Illahe Rajeoon

JS Bank announces the loss of our colleague Mohammad Ateeq

The Pakistan Credit Rating Agency Limited (PACRA) has upgraded the long-term entity rating of JS Bank Limited (JSBL) to ‘AA- (Double A Minus) [previously ‘A+ (A Plus)]. Meanwhile, short-term entity rating is maintained at ‘A1+’ (A One Plus). The ratings denote a very low expectation of credit risk and indicate very strong capacity for timely payment of financial commitments.

The ratings reflect strengthened relative position of JS Bank in the country’s competitive banking landscape. This emanates from enhanced system share (approaching 2% of deposits at end-Sep16). The benefit has trickled down whereby concentration – both in deposits and advances – is approaching adequate levels. Expanded branch network is supporting deposit growth. Meanwhile, JS Bank is carefully building its loan book; although asset quality is good. The strategy is to i) foster penetration of existing branches while expanding the network beyond 300 branches over the near-term; ii) spread advances book through different products over multiple sectors; iii) build non-fund based income; and iv) hold strength in treasury operations. JS Bank has adequate capital level (CAR at end-Sep16: ~12% primarily tier I). However, credit expansion may put some pressure on CAR, for which the bank has option to add support through tier II capital.

Ratings are dependent on JS Bank’s ability to maintain its growth trajectory to establish itself in the medium-sized banking space of Pakistan. Meanwhile, upholding asset quality, adding diversity to income streams, and strong governance framework are critical.

The Bank: JS Bank, in operations since December 2006, operates a network of 278 branches at end-Sep16. Listed on the Pakistan Stock Exchange since 2007, JS Bank is a subsidiary (70%) of Jahangir Siddiqui & Co. Limited (JSCL) which is majorly owned by Mr. Jahangir Siddiqui and family. JS Bank, through its subsidiaries – JS Global Capital Limited (67%) and JS Investments Limited (65%) – and group associates, is well placed to develop a financial services hub. JS group is key shareholder in BankIslami Pakistan Limited and EFU Insurance; in addition to investments in other economic sectors.

BoD consists of nine members including the CEO. Mr. Ali Jehangir Siddiqui has recently been elected as Chairman of the board. JSCL is represented by five directors on the board. Mr. Khalid Imran, the President/CEO of the bank, carries extensive experience in banking. He is supported by an able team. The bank has attained relative stability in top team.

The Street Store Campaign is a worldwide initiative that takes place globally. It originated from South Africa in 2014 and has been going strong ever since. The concept of opening popup stores offering free clothes and shoes for the homeless serves as a great message in bridging the gap between the rich and poor. JS Bank as part of their CSR approach supported this initiative in association with Bay View College. The 505th Street Store took place on the 25th of September at the artistic location of the Commune in Miskeen Gali Karachi, welcoming a huge number of volunteers who helped out during this event catering to more than 100 families

Caption: The Bay view College team along with volunteers at the 505th Street Store held in Karachi, Pakistan.

About JS Bank: JS Bank is considered as amongst the fastest growing banks within Pakistan’s banking landscape with the support of its vast experienced management. The bank now has an online network of 277 branches and presence in over 138 cities across Pakistan. JS Bank is part of JS Group, one of Pakistan’s most diversified and progressive financial services groups controlling and operating market-leading financial services companies in Pakistan across sectors including commercial banking, insurance, asset management and securities brokerage

JS Global held an Exclusive Dinner where Global Fund Managers, Regulators and big domestic Family-owned Groups alongside CEOs of large Financial Institutions were invited. Global Investment Managers representing ~USD3.0 trillion AUMs, included UBS Financial Services, Prusik Investment Management., Lazard Asset Management., Henderson Global Investors, M&G Investments, amongst others.

The event was honored by Mr. Muneer Kamal (Chairman Pakistan Stock Exchange), Mr. Nadeem Naqvi (MD, Pakistan Stock Exchange) and Mr. Muhammad Hanif Jakhura (CEO, CDC).

The Chairman PSX praised increased foreign investors’ interest in the Pakistan economy, particularly the capital markets where a number of new funds/investors alongside seasoned ones are planning to place/reroute greater portion of their funds towards Pakistan due to a number of positive developments taking place. The most notable being; Pakistan being reclassified into the Emerging Markets Index, buying interest from the world’s leading stock exchanges for the majority stake in the PSX and country’s improving macros and strong growth story with a game changer CPEC around the corner.

The MD PSX highlighted the major capital market reforms that took place over the last few years, including the demutualization of the domestic stock exchanges, significantly improved surveillance of the regulators, better risk management and compliance and increased confidence of the Corporate sector in the capital market with the rising preference to raise funds from equity investors thereby gradually increasing the depth and breadth of the market.

He praised the efforts of JS Global for being on the forefront for the development and promotion of country’s capital market and attracting foreign investors while providing a highly professional institutional model of securities business in Pakistan.

He appreciated JS Global for playing an important role in the advocacy efforts for getting Pakistan reclassified into the MSCI Emerging Market Index, through roadshows and conference.

In the end, Mr. Kamran Nasir, Chief Executive, JS Global Capital, thanked all the foreign and domestic investors and the regulators for their participation in the event with a collective pledge to take Pakistan capital markets to a truly global level through continuous development and support.

Some of the key big local Family Business Groups who attended the Dinner were Cyan/Dawood Group, Khaadi, Daewoo Pakistan, Agha Steel Industries, Gul Ahmed, Elahi Group, TPL, Fatima Group, Tapal, Maple Leaf, Bestway Group, B.P. Industries, Metro Group, Shafi Tanneries, Mega & Forbes, Fecto Group, Pak Int’l Bulk Terminal, Multinet, Excel Insurance, National Foods, amongst many others.

Other key Financial Institutions were Al Meezan Investments, NBP, UBL Funds, MCBAH, HBL AMC, JS Investments, just to name a few.

In addition to JS Global’s top management being present, Chairman BoD JS Global, Mr. Akbar Kazmi was also present at this Exclusive gathering.

JS Global hosts an exclusive dinner for distinguished investors, attended by Global Fund Managers, Regulators and big domestic Family-owned Groups alongside CEOs of large Financial Institutions.

JS Global Capital Limited, Pakistan’s Premier and the Largest Brokerage and Investment Banking Firm was again recognized at the 13^th Annual CFA Excellence Awards organized by the CFA Society Pakistan on October 03, 2016.

JS Global’s nominated Equity Sales Trader has been awarded the “Best Equity Trader for Year 2015” with JS Global being the “Best Brokerage House for Year 2015 – Runners Up”. 

These annual awards are considered the capital markets’ industry benchmarks and are based on a confidential poll surveying respondents comprising the buy-side asset managers and investment professionals from Pakistan’s financial sector including Banks, Asset Management Companies, DFIs and other Financial Institutions.

JS Global is the only capital markets firm which has successfully been able to secure Two Awards in the same prestigious category of Equity Brokerage, as “Best Equity Trader” and “Best Equity Brokerage House” for two consecutive years in a row (2014 and 2015).

Mr. Kamran Nasir, Chief Executive, JS Global on receiving the award said “we are delighted and honored to win these awards and would like to thank CFA Society of Pakistan and the esteemed panel of judges who continued to acknowledge the equity brokerage services of JS Global. We would also like to congratulate and thank our entire House’s Team in general and Equity Broking Team in particular, for making this possible. Continuity of such recognitions also endorses the firm’s focus to attract the most talented human capital with focus on best business practices, transparency and above all the high ethical standards that form the core of our business execution strategies. We thank our valued clients and colleagues for their continued trust and support and pledge to remain ahead of the curve in years to come.”

Mr. Syed Murad Ali Shah, Chief Minister Sindh (Chief Guest) and Mr. Muhammad Zafar-ul-Haq Hijazi, Chairman Securities & Exchange Commission of Pakistan (Guest of Honor) graced the occasion and presented the Awards to the winners. Mr. Jahangir Siddiqui, Chairman JS Group was warmly welcomed at the event ceremony by all the distinguished guests for his prominent role and visionary thoughts in developing the financial industry of Pakistan. Due to his efforts, JS Group has become an international investment and industrial conglomerate.

We thank our valued clients and colleagues for their continued trust and support and pledge to remain ahead of the curve in years to come.

Caption: Mr. Kamran Nasir, CEO JS Global receiving the "Best Brokerage House for Year 2015 – Runners Up” award from Mr. Zafar-ul-Haq Hijazi, Chairman SECP