/KASE, August 22, 2023/ – Nurbank JSC (Almaty), whose securities are officially
listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the
following press release:
quote
The "Stable" outlook on the ratings of Nurbank JSC confirms the successful
performance of the financial institution aimed at improving the quality of
assets, reducing bad loans in its portfolio, capital adequacy in terms of
volume and maintaining the required level of liquidity. The agency's
specialists expect the bank to maintain a stable funding profile as well.
The well-known international agency expects Nurbank's capability of generating
profits to improve by reducing the share of bad loans and improving net margins
on the back of higher interest rates this year. Nurbank's funding and liquidity
ratios are in line with the average for the banking system and those of
comparable smaller Kazakh financial institutions. The Bank has formed a
sufficient liquidity reserve, at which a wide indicator of liquid assets
amounted to more than 30% of total assets as of July 1, 2023, which is
certainly a positive factor in the current macroeconomic situation. The report
states that S&P Global Ratings "does not expect a significant outflow of
deposits over the forecast horizon.".
unquote
The full version of the press release is available on –
https://kase.kz/files/emitters/NRBN/nrbn_rating_170823_None.pdf
[2023-08-22]