Moody's подтвердило рейтинговые оценки АО "Евразийский банк" (Казахстан), прогноз "Негативный"

/Moody's Investors Service, Лондон, 22.06.11, перевод и заголовок KASE/ - Рейтинговое агентство Moody's Investors Service подтвердило сегодня следующие рейтинги Евразийского Банка: независимый рейтингфинансовой устойчивости банка (BFSR) на уровне E+, соответствующий рейтингу B1 по долгосрочной шкале; рейтинги долгосрочных депозитов в иностранной валюте на уровне B1, рейтинг краткосрочных банковских депозитов в иностранной валюте на уровне Not Prime, рейтинг привилегированного необеспеченного долга в местной валюте на уровне B1 и рейтинг субординированного долга в местной валюте на уровне B2. Подтверждение Moody's рейтингов Евразийского Банка с прогнозом Негативный основано на аудированной финансовой отчетности банка за 2010 г., подготовленной в соответствии с МСФО, и его неаудированным результатам за 1-й квартал 2011 г., подготовленным в соответствии с местной версией GAAP. Ниже приводится оригинальный текст сообщения Moody's на английском языке. London, 22 June 2011 - Moody's Investors Service has today affirmed the following ratings of Eurasian Bank: the standalone E+ bank financial strength rating (BFSR), which maps to B1 on the long term scale; the B1 long-term foreign currency deposit ratings, Not Prime short-term foreign currency bank deposit rating, B1 local currency senior unsecured debt rating and B2 local currency subordinated debt rating. Moody's affirmation of Eurasian Bank's ratings with negative outlook is based on the bank's audited financial statements for 2010 prepared under IFRS, and its Q1 2011 unaudited results prepared under the local GAAP. RATINGS RATIONALE "Eurasian Bank's ratings affirmation with a negative outlook reflects the fact that despite some recent positive developments in the bank's financial fundamentals, the bank remains vulnerable to risks of asset quality deterioration and high borrower concentration that we will continue to monitor closely in the next 12 to 18 months," says Maxim Bogdashkin, a Moody's Assistant Vice-President and lead analyst for the bank. According to the YE2010 IFRS results, Eurasian Bank improved its revenue generation, which led to: (1) improved efficiency, with a cost-to-income ratio of 74% compared with 108% as at YE2009, and (2) a return to profitability, with return on average equity at 3.1%. The bank's profit in Q1 2011 also demonstrated positive dynamic, exceeding the 2010 result by 80%. At the same time, Eurasian Bank's long-term ratings carry a negative outlook, which reflects continued pressure on the bank's credit profile caused by still high likelihood of asset quality deterioration, with the level of loans overdue for more than 90 days accounting for 9.4% of gross loans, and high credit risks in the bank's loan portfolio, with concentration on the 20 largest borrowers exceeding 4x Tier 1 capital as at YE2010. Moody's believes that the prerequisite for changing the outlook to stable would include a substantially reduced borrower concentration in the loan portfolio and Eurasian Bank's ability to maintain good profitability, coupled with capital adequacy and liquidity being preserved at adequate levels. PREVIOUS RATING ACTIONS AND PRINCIPAL METHODOLOGIES Please see ratings tab on the issuer/entity page on Moodys.com for the last rating action and the rating history. The principal methodologies used in this rating were Bank Financial Strength Ratings: Global Methodology published in February 2007, and Incorporation of Joint-Default Analysis into Moody's Bank Ratings: A Refined Methodology published in March 2007. Headquartered in Almaty, Kazakhstan, Eurasian Bank reported total assets of KZT356 billion (US$2.4 billion) under audited IFRS as of YE2010, up 11% compared to 2009. The bank's net profit totalled KZT771 million (US$5.2 million) in 2010 versus a net loss of KZT13.0 billion (US$87 million) recorded a year earlier. Moscow Maxim Bogdashkin Asst Vice President - Analyst Financial Institutions Group Moody's Eastern Europe LLC Telephone: +7 495 228 6060 Facsimile: +7 495 228 6091 London Yves Lemay MD - Banking Financial Institutions Group Moody's Investors Service Ltd. JOURNALISTS: 44 20 7772 5456 SUBSCRIBERS: 44 20 7772 5454 Moody's Investors Service Ltd. One Canada Square Canary Wharf London E14 5FA United Kingdom JOURNALISTS: 44 20 7772 5456 SUBSCRIBERS: 44 20 7772 5454 [2011-06-22]