/KASE, December 20, 2021/ – Bank Bank RBK (Almaty), whose securities are
officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with
the following press release dated December 15, 2021:
quote
The international rating agency Moody’s Investors Service (Moody’s) affirmed the
long-term deposit ratings in national and foreign currencies at "B2" and
improved the overall rating outlook from "stable" to "positive".
Today's rating action reflects a decrease in uncertainty about the risks
associated with the bank's assets after a significant reduction in bad loans in
2021, along with an increase in the quality new loan portfolio since the
transfer of management of the bank to the new shareholder and management team,
the rating agency noted.
Moody's notes the Bank's efficiency in working with problem assets, which led
from June to October of this year to an almost two-fold decrease in the share of
bad loans, according to the IFRS, and a high level of collateral coverage of the
remaining inherited bad loan portfolio, which indicates an increase in financial
stability and solvency of the Bank.
The rating action also takes into account the successful performance of the Bank
over the past two years, the increased profitability of the Bank and the high
level of liquidity (over 40% of total assets).
unquote
The complete press release is available on KASE website –
https://kase.kz/files/emitters/INBN/inbn_reliz_151221_.pdf
[2021-12-20]