According to RAM Ratings, Saadiq remains among the smaller Islamic banks in Malaysia, with less than 2% of the segment's assets as at end-June 2017. Saadiq's financing portfolio is mainly on secured financing, RAM Ratings said. As at end-June 2017, residential and non-residential property financing comprised 61% of the bank's financing portfolio while personal financing facilities accounted for 4%. In end-December 2012 the figures were 20% and 34% respectively.
News & trends blog on the shari'ah economy in Asia Pacific/Middle East. Reporting from Singapore.
Wednesday 15 November 2017
Standard Chartered Saadiq remains rated at AAA
RAM Ratings has reaffirmed Standard Chartered Saadiq's AAA/Stable/P1 financial institution ratings. The ratings assume that there will be ready capital and funding from parent Standard Chartered Malaysia as required. Saadiq is the Islamic banking arm of Standard Chartered Bank Malaysia, which has also been rated AAA/Stable/P1 by RAM. Standard Chartered Saadiq leverages its parent’s branch network, technical expertise, and risk-management systems.
According to RAM Ratings, Saadiq remains among the smaller Islamic banks in Malaysia, with less than 2% of the segment's assets as at end-June 2017. Saadiq's financing portfolio is mainly on secured financing, RAM Ratings said. As at end-June 2017, residential and non-residential property financing comprised 61% of the bank's financing portfolio while personal financing facilities accounted for 4%. In end-December 2012 the figures were 20% and 34% respectively.
According to RAM Ratings, Saadiq remains among the smaller Islamic banks in Malaysia, with less than 2% of the segment's assets as at end-June 2017. Saadiq's financing portfolio is mainly on secured financing, RAM Ratings said. As at end-June 2017, residential and non-residential property financing comprised 61% of the bank's financing portfolio while personal financing facilities accounted for 4%. In end-December 2012 the figures were 20% and 34% respectively.