The international rating agency Standard & Poor's has affirmed the long-term and short-term credit ratings of Nurbank at 'B/B'.
The affirmation of the credit rating at 'B/B', under the current conditions in the domestic and external financial markets, indicates the bank's reliability, as well as trust from clients and partners. We will continue to work on improving the bank's operations,” said Eldar Sarsenov.
In connection with the current negative trends in Kazakhstan's banking sector, Standard & Poor's revised the outlook from 'stable' to 'negative' and changed the national scale rating from 'kzbb+' to 'kzbb'. In turn, Standard & Poor's analysts noted that they are ready to revise the outlook back to 'stable' should there be an increase in capitalization and asset growth, considering the risks amid the current situation in Kazakhstan's banking sector.
“In order to improve the bank's performance this year, we intend to actively develop retail business and enhance remote banking services. In the near future, our clients can expect new card products, a fundamentally new mobile Internet banking for the local market, and a comprehensive network of terminals for paying banking and other services,” said E. Sarsenov.
Let us recall, according to unaudited consolidated financial statements, Nurbank's net profit in 2015 increased by 6.3% compared to 2014 and amounted to 1.898 billion tenge. Assets increased by 9.2% to 323.823 billion tenge. The bank's liabilities for the reporting period rose by 10.2% to 281.2 billion tenge, and equity increased by 3.4% to 42.072 billion tenge. According to the National Bank, Nurbank ranked 14th among 35 Kazakhstani banks in terms of assets as of January-September 2015.