/KASE, July 26, 2021/ – Kaspi Bank (Almaty), whose securities are officially
listed on Kazakhstan Stock Exchange (KASE), has informed KASE about the
following:
quote
On July 23, 2021, the international rating agency Moody’s upgraded the ratings
of Kaspi Bank.
The long-term rating of deposits in national and foreign currency was raised to
Ba1 from Ba2. Long-term counterparty risk rating: up to Ba1 from Ba2. The
outlook for long-term deposit ratings on the international scale and the general
outlook for the issuer were changed to Stable from Positive.
Moody's analysts noted that the upgrading of Kaspi Bank's rating demonstrates
strong financial performance and resilience to the unfavorable operating
environment in 2020. In 2020 and Q1 2021, profitability remained stable,
liquidity cushion strengthened, and Kaspi's asset quality improved.
Mikhail Lomtadze, head and co-founder of Kaspi.kz, commented:
"The increase in ratings is another recognition of the high quality of our
business and the principles of work in accordance with the best global
practice. We continue to create and launch innovative services for our dear
customers. For example, in June we launched the possibility of purchasing train
tickets online directly in our super app Kaspi.kz. We will continue to
pleasantly surprise people of Kazakhstan with new services that make life
better for every one of us. Thank you for being with us! "
Moody's also upgraded the Bank's long-term national scale deposit rating to
Aa3.kz from A1.kz and the long-term national scale counterparty risk rating to
Aa2.kz from A1.kz.
Short-term rating of deposits and short-term rating of counterparty risk at Not
Prime and short-term rating of counterparty risk at Not Prime (cr) were
affirmed.
unquote
More details are available on KASE website –
https://kase.kz/files/emitters/CSBN/csbn_reliz_260721_1.pdf
[2021-07-26]