Fitch assigned rating “B” to Bank of Astana with prediction “Stable”
October 29, 2015, Almaty. International rating agency Fitch Ratings assigned long-term issuer default rating at level “B” with “Stable” prediction to JSC “Bank of Astana”. From the perspective of Fitch, mentioned ratings of Bank of Astana at level “B” are stipulated by independent bank solvency, which is reflected in its viability rating “b”.
Also rating agency indicated in its conclusion that current quality parameters of assets of Bank of Astana is better than average values in sector and bank capitalization is reasonable with regulative indicator of total capital adequacy at 11,7% at the end of 8 month of 2015.
Dynamic growth of bank stock, building of trust on the part of large clients represented by national companies, and also start-up of innovation products for population and SMB, which had positive impact on amount assets of the bank, – these and many other achievements became reasons for decision of experts of agency Fitch on assignment of new positive rating to Bank of Astana.
Iskender Mailibayev, Chairman of the Board of JSC “Bank of Astana”:
“Team of Bank of Astana demonstrated high results in work, which had positive impact on development of the Bank. The last ratings of Fitch were stipulated by real financial indicators of the bank, and they indicate on reliability and stability of financial institute in spite of difficult economic conditions and increased competition in bank sector. Decision of one of the most important and honored international rating agencies is one more objective acknowledgment of achievements of Bank of Astana”.
Financial indicators of Bank of Astana as of October 1, 2015:
Bank’s assets were192,7 bln. KZT, having increased on 65,2 bln. KZT or 51% since beginning of the year.
Credit portfolio has increased on 47,9 bln. KZT and was 129,8 bln. KZT
Bank’s liabilities have increased on 64 bln. KZT or on 58% and were 173,9 bln. KZT
Deposit portfolio has increased on 29,7 bln. KZT since beginning of the year and was 124,3 bln. KZT