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Bank of Astana increased equity capital on 10 bln. KZT

Bank of Astana increased equity capital on 10 bln. KZT

October 4, 2016, Almaty. Bank of Astana informs on increase of equity capital on 10 bln. KZT by means of allocation of common shares of the Bank.

Shareholders used preferential right on purchase of these shares. Increase of tier 1 capital was planned within development strategy of the Bank and aimed at improvement of indicators of capital adequacy and its stability to risks absorption. Decision of shareholders was stipulated by their desire to support business growth of the Bank on high level and to synchronize level of grown assets with capital level in accordance with the requirements of regulator of international rating agencies. 

"This is second increase of our authorized capital in current year. It corresponds to growth rates of the bank and confirms our plans on support of high indicators of capitalization", – commented Iskender Mailibayev, chairman of the border of JSC “Bank of Astana”.  

We recall that the last increase of the Bank’s capital on 4,5 bln. KZT was in June 2016. Shareholders plan to increase level of the Bank’s capital, which will correspond to rates of business growth in key areas, denoted by long-term development strategy. Value of authorized capital of the Bank is 34 785 466 800 (thirty four billion seven hundred eighty five million four hundred sixty six thousand) KZT as of October 03, 2016. Total number of allocated common shares of the Bank has increased from 21 400 466 to 29 733 800.

Joint-stock company “Bank of Astana” performs its activity since 2008, and under new name “Bank of Astana” since 2014. Branches of the Bank were opened in Astana, Almaty, Atyrau, Aktau, Shymkent, Karaganda, Ust-Kamenogorsk, and Pavlodar. Also payment cards of the Bank are delivered to 18 cities in Kazakhstan free of charge. The Bank was assigned credit rating “B” with prediction “stable” by international rating agency Fitch Ratings.

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