/KASE, September 22, 2021/ – Nurbank (Almaty), whose securities are officially
listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the
following press release:
quote
The international rating agency S&P Global Ratings has affirmed the long-term
and short-term credit ratings of Nurbank JSC at "B-/B" and the long-term rating
of the bank on the national scale at "kzBB-". The outlook is "Stable".
As noted by the experts of S&P Global Ratings, the decision is based on a
gradual improvement in the quality of the bank's assets thanks to support from
the state and the owner. Analysts conducted a thorough analysis of the bank's
compliance with all measures taken under the financial stability program
recommended by the regulator. "According to the results of seven months of
2021, Nurbank recorded a profit of 942 million tenge against losses in 2020.
Loans were issued for 62.6 billion tenge. An increase compared to the same
period last year by more than 1.5 times. Of these, the share of SMEs amounted
to 37%, an increase by 40% compared to the same period last year. The bank's
assets since the beginning of this year have grown by 5.6 %, amounting to 451.9
billion tenge," – says S&P Global Ratings.
Analysts positively assess the bank's indicators and plans specified in the
strategy for the growth of loan and deposit portfolios. According to the agency,
the funding and liquidity indicators of Nurbank JSC correspond to the average
indicators for the banking system and similar indicators of comparable
Kazakhstan's financial institutions.
unquote
The complete press release is available on –
https://kase.kz/files/emitters/NRBN/nrbn_confirmation_rating_170921_1.pdf
[2021-09-22]