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Fitch confirmed rating “B” to Bank of Astana with prediction “Stable”

April 12, 2016, Almaty. International rating agency Fitch Ratings confirmed long-term ratings to Bank of Astana at level “B” with “Stable” prediction. Agency indicated on capitalization adequacy, income and bank liquidity, corresponding to prudential norms of regulator.    

 

Iskender Mailibayev, chairman of the board of JSC “Bank of Astana”:

“I think that confirmation of long-term credit rating is positive assessment of our work by independent experts. Bank of Astana demonstrated stable development dynamic even subject to slowdown of growth of economy in the country, reduction of KZT exchange rate and fall in the global price of oil. Stable development of our bank is result of efficient implementation of our strategy with the support of shareholders”.   

 

The bank pays special attention to quality of its service and plans to take one of leading positions on the market on rendering of financial services to private persons and business entities through modern remote channels – internet bank and its mobile version. Growth of trust on the part of population and large companies will allow the bank increase its deposit base. So, growth of term deposits of population was 6,7% during February 2016,  and it is higher than average one in the market.

 

Main financial indicators of Bank of Astana as of April 1, 2016:

– assets of the bank were 250,8 bln. KZT (growth on 26,7 bln. KZT or 11,9% since beginning of the year);

– credit portfolio was 151,1 bln. KZT (growth on 18,9 bln. KZT or 14,3% since beginning of the year);

– bank liabilities were 227,1 bln. KZT (growth on 26,5 bln. KZT or 13,2% since beginning of the year);

– deposit portfolio was 164,2 bln. KZT (growth on 19,1 bln. KZT or 13,1% since beginning of the year);

– equity capital was 23,7 bln. KZT (growth on 0,3 bln. KZT or 1,2% since beginning of the year)

– net income was 280 mln. KZT.