S&P Global Ratings affirmed NurBank's long-term and short-term credit ratings at 'B-/B' and upgraded the national scale rating from 'kzBB-' to 'kzBB'.
The agency's analysts assume that the RAC ratio (capital adequacy ratio) will steadily exceed 7.0% in 2024-2025 compared with previous forecasts of 6.5–6.8%. The 'Positive' outlook on the rating also reflects S&P's analysts' expectations regarding a possible upgrade of the financial institution's rating in the next 12–18 months.
"The revision of NurBank JSC's reliability rating outlook from 'Stable' to 'Positive' by the influential international rating agency S&P Global Ratings confirms that the bank has sufficient capital and liquidity reserves. S&P Global Ratings' assessment affirms the prospects and effectiveness of NurBank's chosen strategy in the financial market, as ratings are an indicator of a credit institution's solvency and reliability.
The overall positive expectations of the agency's analysts speak to the bank's stability and the effectiveness of its chosen course, as well as the accuracy of the bank's management's strategic decisions in the current market conditions," comments Gulnara Musataeva, Chairman of the Board of NurBank JSC.