One of the leading international rating agencies, Moody's Investors Service, has released a report affirming the current ratings of Nurbank:
In the justification presented in Moody's final report, key performance indicators of Nurbank over time (period from 2002 to 2006), such as the amount of equity, growth of the bank's charter capital, asset quality, and others are compared. According to Moody's analysts, the bank's financial strength rating reflects the bank's current stable position, improvements in corporate governance, increased efficiency, and higher profitability in the first half of 2007, as well as sufficient capitalization of the Bank.
The report also notes that a recognizable brand, presence in key regions of Kazakhstan, and a developed IT structure enable Nurbank to implement a strategy aimed at strengthening its market position and more active operations in the retail and SME segments.
It is important, Moody's analysts highlight, that Nurbank is showing progress in corporate governance, as well as in increasing the transparency of the bank's shareholder structure. It should be noted that currently, major participants of Nurbank are Dariga Nazarbayeva and Nurali Aliyev, who directly control approximately 50% of the bank's shares. Nurali Aliyev, in addition, heads the Board of Directors of Nurbank.
The affirmation of ratings by one of the largest international rating agencies testifies to Nurbank's stability and reliability as a financial institution, as well as their confidence in the measures being undertaken by the Bank: increasing the Bank's capitalization, strengthening the management team, progress in corporate governance and transparency.
Nurbank JSC is among the top ten largest banks in Kazakhstan. As of January 1, 2008, the bank's equity amounted to 45,471,335 thousand tenge, including charter capital of 27,097,267 thousand tenge. The bank's assets were 204,040,360 thousand tenge, net profit — 3,030,166 thousand tenge.