Press Release

Entity Ratings of Security Investment Bank Limited

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Karachi, October 14, 2016: JCR-VIS Credit Rating Company Limited (JCR-VIS) has placed entity ratings of ‘BBB+/A-2’ (Triple B Plus/A-Two) assigned to Security Investment Bank Limited (SIBL) on ‘Rating Watch Developing’ status. The previous rating action was announced on July 7, 2015.

In a recent Board meeting, it was decided that the company will continue as a non-deposit taking institution to comply with the Minimum Capital Requirement (MCR). As per the amended NBFC rules, a non-deposit taking financial institution must maintain a MCR of Rs. 100m. At end-June 2016, equity of the company stood comfortably above this level at Rs. 519.5m. Ratings will be reviewed once future business and financial plans are formalized.

For further information on this rating announcement, please contact Mr. Mohammed Khalid Ali (Ext: 241) or Mr. Javed Callea (Ext: 234) at 021-35311861-70 or fax to 021-35311873.

Jamal Abbas Zaidi

Applicable Rating Criteria: Non-Banking Financial Companies (March 2005)

Information herein was obtained from sources believed to be accurate and reliable; however, VIS Credit Rating Company Limited VIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information.VIS, the analysts involved in the rating process and members of its rating committee do not have any conflict of interest relating to the rating(s)/ranking(s) mentioned in this report.VIS is not an NRSRO and its credit ratings are not NRSRO credit ratings.VIS is paid a fee for most rating assignments. This rating/ranking is an opinion and is not a recommendation to buy or sell any securities. Copyright 2016 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.

JCR-VIS Credit Rating Company Limited