Kazakhstan-based Kaspi Bank's IDR affirmed at "В" by Fitch Ratings

/KASE, June 12, 09/ - Kaspi Bank (Almaty), a company listed on Kazakhstan Stock Exchange (KASE), provided KASE with a press release: Quotation beginning Fitch Ratings has today affirmed Kazakhstan-based Kaspi Bank's (Kaspi) Long- term Issuer Default Rating (IDR) at 'B'. The affirmation of Kaspi's Long-term IDR reflects the somewhat less high risk profile of the bank's loan portfolio, relative to other Kazakh banks, in particular the comparatively low proportions of real estate/construction and foreign currency lending. It also factors in the bank's reasonable consolidated capital ratios, which provide meaningful loss absorption capacity, and its currently comfortable liquidity profile, which is predominantly supported by customer funding. These positive factors mitigate the bank's deteriorating credit metrics and the challenging operating environment. - We are pleased Fitch Ratings affirmed the main rating of kaspi bank, - bank Chairman Mikhail Lomtadze said. - This is a good new for us and Kazakhstan financial market and consumers of banking services. In joined efforts, we together, can overcome consequences of the global financial crisis and continue build successful future. --------------------------------------------------------------- Long-term Short-term IDR in IDR in foreign foreign No Bank name currency currency Individual -- ------------------------ --------- ---------- ---------- 1 ATFBank BBB F3 D/E 2 Halyk Bank of Kazakhstan B+ B D/E 3 Bank CenterCredit B B D/E 4 Kaspi Bank B B D/E 5 KAZKOMMERTSBANK B- B E 6 Eurasian Bank B- B D/E 7 BTA Bank subsidiary - C C/RW E TEMIRBANK negative 8 BTA Bank RD RD F 9 Alliance Bank RD RD F 10 Nurbank - - - --------------------------------------------------------------- Source: official site of rating agency Fitch - www.fitchratings.ru At the same time Fitch Ratings changed individual rating of the bank (Individual Rating) from D to D/E, bringing it into compliance with ratings of other leading banks and Halyk Bank and Bank CenterCredit in particular, the rating agency said in a press release. - Rating of our bank is high in the Kazakhstan banking system, - Mikhail Lomtadze said. - At risk evaluation rating agencies pay most attention to management quality, capital adequacy level, loan portfolio quality and risks. According to the consolidated international financial statements, capital adequacy of kaspi bank at the end of the year exceeded 25 %, which is significantly more than needed. Constant improvement and perfection of risk management systems, specifically, in retail business, is a priority. All these factors were taken into consideration by analysts of the international agency when affirming the rating of kaspi bank. For further information, please, contact: Botagoz Zhumanova Media Relations Tel.: 8 (7272) 501-800 (ext. 1376) E-mail: ZHUMANOVA.Botagoz@kaspibank.kz Mobile: +7-701-223-87-85 +7-777-232-51-12 Quotation end [2009-06-12]