Fitch подтвердило рейтинги Темирбанка (Казахстан)

/REUTERS, Лондон, Москва, 25.02.05/ - Международное рейтинговое агентство Fitch Ratings подтвердило в пятницу следующие рейтинги казахстанского Темирбанка: - долгосрочный на уровне "В"; - краткосрочный на уровне "В"; - индивидуальный на уровне "D"; - поддержки на уровне "5". Ниже приводиться оригинальный текст сообщения Fitch Ratings на английском языке. FITCH AFFIRMS KAZAKHSTAN'S TEMIRBANK London/Moscow-25 February 2005: Fitch Ratings, the international rating agency, has today affirmed Kazakhstan-based Temirbank's ("Temir") ratings at Long-term B', Short-term 'B', Individual 'D', and Support '5'. The Outlook is Stable. Temir's Long-term, Short-term and Individual ratings reflect its high-risk operating environment, low level of profitability, small, albeit growing, franchise, and the high degree of concentration in the loan portfolio. However, the ratings also recognise the bank's currently adequate capitalisation and the reasonable level of internal controls and, to date, asset quality. Temir's growth decelerated in 2002 and remained low in 2003, due primarily to disruption caused by changes in ownership and management and the loss of business with the Astana Group, the previous majority shareholder. However, business picked up in H104, due both to the attraction of new corporate customers and increased retail activity. Performance is weak, with return on equity only just above the rate of inflation in 2003 and H104. Recurring revenue generation has been reasonable, but profitability has been affected by the bank's high cost income ratio and, in particular in H104, significant loan loss provision charges. The customer loan book increased by a rapid 30% in H104 due to greater lending to both corporates and individuals, the latter mostly through mortgage loans. The loan portfolio remains concentrated by customer, although the share of loans to the ten largest borrowers declined to 26% at end-H104 (end-2002: 39%). Asset quality is good, with actual loan losses, apart from those relating to the Astana Group, in the past three years being minimal. A significant amount of funding (50%) is sourced from short-term accounts, which are concentrated and can be volatile. However, the bank maintained a positive cumulative liquidity gap up to three months at end- H104. Capital adequacy is sound, with total capital ratio of 17.6% at end-H104. However, this ratio should be considered in the light of the low loan loss reserve ratio and the concentrated loan book. The planned contribution of USD50 million (Tier 1: 160% of end-H104) of new equity in 2005 would further strengthen capital and create additional growth potential. Temir is one of the ten largest banks in Kazakhstan by assets. However, in a banking sector dominated by three banks, it held a small 1% of the system's assets at end-H104. [2005-02-25]