Lahore, December 15, 2022 (PPI-OT):The rating reflects the overall strength of the Company in the brokerage space. The rating signifies a strong internal control framework whereby the internal audit is performed at the group level while a separate compliance department and a dedicated risk manager also provide support. JS Global Capital Limited (JSGCL) provides its clients with online trading, a mobile app, complaint management, dedicated research, and a real-time reporting mechanism. The rating takes comfort from the strong ownership and governance framework emanating from its association with the JS Group.

However, the independence of the risk management function may be considered to enhance regulatory compliance. In tandem with the decline in market volumes, the revenue from equity brokerage declined; however, the dividend and margin financing income provided support to the bottom line. The rating derives comfort from JSGCL’s policy to not partake in Proprietary-Book; limiting the market risk.

Going forward, sustainability and improvement in core revenue and profitability remain critical. Meanwhile, upholding strong internal controls, retention of key management, and diligent risk monitoring is important. Listed in 2005, JSGCL is part of one of the most prominent groups in the financial industry. JSGCL primarily provides the services of Equity Brokerage, Corporate Finance, and Research while Margin Financing is also available.

For more information, contact:
Analyst,
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore, Pakistan
Tel: +92-42-5869504-6
Fax: +92-42-5830425
Email: hammad.rashid@pacra.com
Website: www.pacra.com