Standard & Poor’s assigns ‘B-/ C’ credit rating to Kazakh bank

Business Materials 30 January 2012 17:48 (UTC +04:00)

Azerbaijan, Baku, Jan. 30 / Trend E. Kosolapova/

International rating agency Standard & Poor's assigned 'B-/ C' long-term and short-term counterparty credit rating to the Kazakh bank RBK, Novosti-Kazakhstan reported referring to the agency.

Moreover, the agency affirmed the bank's national scale rating at 'kzBB-'.

"The outlooks on the ratings are stable," the report said.

The ratings reflect the moderate business position of the bank, adequate capital and profitability ratios, the weak risk position, the average funding and adequate liquidity. The bank stand-alone credit profile is assessed as 'b-'

RBK bank is the Kazakh bank dealing with the mining and smelting sector of the economy.
According to the preliminary data, the bank's assets hit 38.9 billion tenge (roughly $262 million), equity capital - 5.5 billion ($37 million), loanable funds - 15.7 billion tenge (roughly $106 million) as of January 1, 2012.