Standard & Poor's upgraded Nurbank's rating on the national scale and affirmed it internationally
The international rating agency Standard & Poor's has upgraded Nurbank's rating on the national scale from "kzB+" to "kzBB-". At the same time, the long-term and short-term credit ratings were affirmed at the previous level of B-/B.
"Last year, the rating agency predicted a deterioration in the ratings of most Kazakhstani banks. To maintain our rating in such a situation, we have to be better than the market. Our conservative approach to doing business not only allows us to maintain the image of Nurbank as one of the most stable financial institutions in Kazakhstan but also to develop our product line and the range of services we offer," noted Eldar Sarsenov, Chairman of the Management Board of JSC "Nurbank".
As of today, the bank's liquidity level is sufficient and allows not only to meet 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 60.2% of the loans issued by Nurbank, with another 21.9% going to SMEs. Retail borrowers make up 17.9%. The volume of overdue loans does not exceed 6.72%, noticeably lower than the market average of 9.05%. In the structure of client deposits, individuals account for 57.7%, legal entities - 42.3%, and national company funds - 3.4%.
"Such a monetary policy allows us to minimize risks. We strive to lend to companies with a well-deserved reputation in the market that fulfill their obligations in accordance with the contract terms. That is, we actively lend to businesses and the population, while maintaining the proportions of borrower types, allowing us to keep risks at a very low level," said Eldar Sarsenov.
For reference:
Key financial indicators for the first quarter of 2018:
Net profit compared to the first quarter of last year increased and amounted to 1.381 billion tenge;
Shareholder capital remained unchanged at 127.6 billion tenge. The bank's equity capital increased from 41.9 billion tenge to 55.4 billion tenge;
Nurbank's assets increased over the reporting period of 2018, reaching 360.1 billion tenge;
Data on loans issued to clients:
According to the National Bank of the Republic of Kazakhstan, Nurbank ranked 14th among 32 Kazakhstani banks in terms of assets at the end of the first quarter of 2018.
Press service of JSC "Nurbank"
Contact phone: 2 599 710 *5465