PRESS RELEASE
Almaty, November 29, 2018
The international rating agency Standard & Poor's has affirmed the long-term and short-term credit ratings of Nurbank at 'B-/B'.
According to S&P analysts, this rating affirmation reflects the bank's moderate business position despite increased industry risks in Kazakhstan's banking sector due to heightened competition. It was also noted that there is a decrease in pressure on funding indicators and a planned stabilization of the resource base, accompanied by a gradual improvement in asset quality. The bank's liquidity was noted to be at an 'adequate' level.
"The affirmation of Nurbank's ratings takes into account the bank's long history of acceptable performance indicators and a more mature business model. Moreover, the ratings reflect the bank's confident position, moderate credit losses, and sufficient capitalization and liquidity. The results obtained prove the effectiveness of our business model and instill confidence that 2019 will also be successful for our bank," noted Eldar Sarsenov, Chairman of the Management Board of JSC "Nurbank".
As of today, the bank's liquidity level is sufficient and allows it not only to fulfill its obligations but also to continue lending to the real sector of the economy. The bank's deposit and loan portfolios are balanced. Large businesses account for 62.3% of loans issued by Nurbank, while SMEs account for 20.8%. Retail borrowers make up 16.9%. In the structure of client deposits, individuals account for 50.1%, legal entities 46.3%, and national companies 3.6%.
For information:
Main financial indicators for the first 10 months of 2018:
• 65.6 billion tenge - the bank's equity. Since the beginning of 2017, it has increased by 5.1 billion tenge.
• 417.7 billion tenge - Bank's assets. According to the National Bank of Kazakhstan, Nurbank ranks 13th among 28 Kazakhstani banks by asset size as of the end of the first ten months of 2018.
• 3.6 billion tenge - Bank's profit.
• 16 regions and 25 cities of presence.
• 83 offices and 462 points of sale.
Press service of JSC "Nurbank"
Contact phone: 2 599 710 *5465