12 September, Almaty

Eurasian Bank notifies its customers and partners that Moody’s upgraded the Bank’s long-term deposit ratings from Ba3 to Ba2 and the BCA (Baseline Credit Assessment) rating from b1 to ba3. The outlook on the long-term deposit ratings is stable.  The upgrades reflect improvements in asset quality, profitability and solvency of Eurasian Bank against the background of favorable operating environment and macroeconomic situation in Kazakhstan, as reported in the official press release of the credit rating agency.

“We expect that Eurasian Bank will be able to preserve its credit metrics which have improved during the last two-three years. Its growing customer base will support profitability.  Greater economic resilience will cap cost of risk while stability of monetary fundamentals (e.g., interest rates, FX rate) will support liquidity through strengthening of deposit base”, according to Moody’s analysts.

The credit rating agency also believes that the on-going development of banking supervision and regulation diminish the risk of unexpected defaults and volatility in the sector and is positive for quality of capital.

The stable outlook on the long-term deposit ratings of Eurasian Bank reflects Moody’s expectations that stronger operating environment will allow the bank to maintain its key credit metrics and reduce their volatility.

Eurasian Bank is a socially important financial institution in Kazakhstan, the sixth largest bank in Kazakhstan in terms of assets as of 1 January 2024. It is an absolute leader in auto lending, one of the top-3 banks in consumer lending, holds leading positions in retail, provides a wide range of services to corporate customers and entrepreneurs. The Bank belongs to the ecosystem of ERG Group (one of the largest companies in the world in the field of mining and processing of mineral resources).