Kazakh Tengri Bank JSC gets license on banking operations
Baku, Azerbaijan, Dec. 15
By Ali Mustafayev – Trend:
Kazakh Tengri Bank JSC provided the license for banking and other operations and securities market activities to the stock exchange of the country (KASE), the press service of KASE, said in a message.
The license was issued by the National Bank of of Kazakhstan on December 14, 2017.
The securities of Tengri Bank JSC are on the official list of the Kazakh Stock Exchange.
On December 13, 2017, the S&P Global Ratings international rating agency confirmed the long-term credit rating of Tengri Bank JSC at the level of "B +", which reflects the high level of capital adequacy, the quality of the loan portfolio, as well as the stable financial position of the bank.
The largest shareholder of the bank is Punjab National Bank (PNB), the second largest state-owned bank in India, founded in 1895 and serving about 100 million customers through more than 6,000 branches and offices.
Punjab National Bank's (PNB) equity capital is $6.8 billion, total assets - $113.2 billion.
The Punjab National Bank’s (PNB) long-term credit rating is "BBB-".
As of November 1, 2017, assets of Tengri Bank JSC increased by 49.4 percent compared to the beginning of the year and amounted to 106.7 billion tenge. The increase in assets was mainly due to the growth of the loan portfolio by 59.2 percent to 86.4 billion tenge in the mentioned period. At the same time, the bank's deposit portfolio increased by 52 percent and amounted to 63.4 billion tenge.
(Exchange rate for 15.12.2017: $1 - 335 tenge)