ALMATY, June 28, 2017 – Standard & Poor’s (S&P), the international credit-rating agency confirmed the bank-agent’s long-term and short-term B/B rating outlook. At the same time on a national the Bank rating was confirmed as “kzBB”.

As is indicated in the Agency official communication, the Eurasian Bank risk position is currently rated as “moderate”, which is in line with the estimates of most other Kazakhstani banks that S&P assigns ratings to. The reported quality of the Bank assets as well as the volume of possible non-performing loans generally correspond to the average indicators throughout the sector.

“As a positive factor, we note the leading market position of Eurasian Bank in the retail lending sector, especially in the auto loan segment, a low propensity to accept risks and a fairly diversified business model”, S&P states in the communication.

The rating outlook was increased to ‘negative’ from ‘stable’. “The outlook review is due to the fact that, in our opinion, the Eurasian Bank capitalization indicators might occur to be under pressure in the complex operating environment of Kazakhstan. As far as we understand, at present the Bank shareholders express their readiness to support it by additional capital infusions, but we cannot exclude the possibility that this readiness might decrease”, is noted in the statement.

“Against the backdrop of increasing macroeconomic challenges, we view the confirmation of the Bank ratings as a serious achievement and evidence of the chosen strategy correctness. The Bank shareholders are focused on its further sustainable development – at the end of 2016 a new team was invited to the Bank and a 5-year strategy was adopted. In addition, in June this year, the shareholders have already infused 6 billion tenge into the Bank capital. It should be noted that Eurasian Bank JSC is considered by the National Bank of the Republic of Kazakhstan as a large and socially significant bank and, in connection with this, it will be included in the banking sector support program, which is scheduled to start in August-September 2017. Within the framework of the program, Eurasian Bank will be provided with a subordinated loan on the condition that the shareholders provide additional Bank capitalization in a participatory manner. This also indicates the willingness of the shareholders to maintain the asset and allows us to confidently assess the development prospects”, commented Mr. Pavel Loginov, the CEO of the Eurasian Bank JSC Management Board.

For information:

Eurasian Bank is a universal Kazakhstan bank, founded in 1994. It has a subsidiary in Russia (Moscow) with branches in Novosibirsk, Omsk and Chelyabinsk. It is rated “B” by S&P with a “stable” outlook. Eurasian Bank is a member of KASE and a party to KazPrime. The Bank’s accomplishments were acknowledged by the following awards: Best Bank in Kazakhstan 2014 (IAIR), Best Bank in Kazakhstan 2013, 2014 and 2015 (EMEA Finance), Domestic Retail Bank of the Year, Kazakhstan in 2012, 2013,  2015 and 2016 (Asian Banking & Finance), Best Bank in Kazakhstan 2012 (Euromoney), and Bank of the Year 2012 and 2014 Kazakhstan (The Banker)..

Eurasian Bank belongs to the owners of Eurasian Resources Group S.a.r.l. («ERG»), a large diversified company in extraction and development of natural resources area, representing more than 4% of Kazakhstan’s GDP and about a third of its metallurgical and mining industry. To date, Eurasian Resources Group is the largest ferrochromium producer and one of the main producers of iron ore and alumina in the world. Eurasian Resources Group’s production assets and development projects cover four continents. The company is the largest employer in the industry as well. The Group is represented by more than 80,000 employees around the world. The shareholders of the Group: Aleksandr Mashkevitch, Alidzhan Ibragimov and Patokh Shodiev.

Press Office of Eurasian Bank JSC:

Tel. +7 (727) 2 599 599 (3288)

press@eubank.kz www.eubank.kz