S&P Global Ratings confirmed the bank's B/В rating outlook
ALMATY, December 21, 2017. December 15, 2017 S&P Global Ratings (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 scale the Bank rating was confirmed as “kzBB”. Also, S&P removed the UCO Bank ratings (Under Criteria Observation – ratings observed due to the criteria review) as the Bank is a participant to the Kazakhstan Bank Sector Financial Sustainability Enhancement Program (Program).
The Agency Analysts marked that joining the Program allowed Eurasian Bank to create additional reserves. Taking into account the Bank participation in the NBRK program, the S&P experts note that the Bank shareholders demonstrate their readiness and ability to provide the Bank with additional capital in case of need.
According to the NBRK as of November 1, 2017, the Eurasian Bank assets amounted to 1,069.1 billion tenge, the equity capital to164.2 billion tenge, the Bank ranks 9th in terms of assets and the 5th in terms of equity capital among Kazakhstan commercial banks. Also, the Bank has 9th place among the second-tier banks by the size of the individual deposit and loan portfolios.
About the Bank
Eurasian Bank is one of the socially important commercial banks in Kazakhstan with a 23-year history of development. The financial institution occupies a leading position in the retail banking market, provides a wide range of services to corporate and SME customers. On September 4, 2017, the Eurasian Bank Board of Directors adopted the development strategy of the financial institution until 2022 focused on retail business development. Eurasian Bank belongs to the owners of Eurasian Resources Group S.a.r.l. («ERG»), a large diversified company. The shareholders of the Group: Aleksandr Mashkevitch, Alidzhan Ibragimov and Patokh Chodiev.
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