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BTA Receives BB/Stable/B Rating from Standard&Poor’s
15.02.2006 / Kulataev DulatLondon, February 14, 2006 – Standard&Poor’s conferred counterparty credit rating of BB/Stable/B on JSC ‘Bank TurnaAlem’. Thus Bank’s long-term rating is one notch higher than previous BB-.
Counterparty credit rating – BB/Stable/B
Certificates of deposit – BB/B
It is said in Standard&Poor’s press-release that long-term BB rating was raised ‘due to greater government support’. S&P’s also highlighted Bank’s ‘dominant role … in financing country’s economy’.
Standard&Poor’s
Standard&Poor’s is the world’s foremost provider of independent credit ratings, indices, risk evaluation, investment research and data. With approximately 6,300 employees located in 20 countries and markets, Standard&Poor’s is an essential part of the world’s financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit www.standardandpoors.com.
JSC ‘Bank TuranAlem’
JSC ‘Bank TuranAlem’ - system-making bank of Kazakhstan, leading in creation of banking network on the territory of CIS. Bank’s assets exceed 7.2 billion USD; equity capital exceeds 800 million USD. Bank’s shareholders are the world largest institutions such as EBRD, RZB, IFC and FMO. In Kazakhstan the Bank confidently holds the leading position among the second-level banks in the field of trade financing, SME loans and mortgage lending. Bank’s development strategy includes geographical diversification and the extension of the range of provided services, as well as stable dynamic growth.