Baku, Azerbaijan, Feb. 14
By Ali Mustafayev – Trend:
In response to the action of S&P rating agency in relation to the Capital Bank Kazakhstan JSC rating, the shareholder (Orifdzhan Shodiev, included in the rating of top 50 richest businessmen in Kazakhstan according to Forbes) and the bank’s management adopted measures in order to strengthen and support the bank, Kazakh Stock Exchange said in a message.
“The shareholder of the bank will invest additional funds to the bank in the form of a long-term deposit in the quantity sufficient to ensure full and timely payments to customers and partners, in full conformity with the requirements of the National Bank of Kazakhstan and will take all the necessary additional measures to ensure liquidity of Capital Bank Kazakhstan,” the message said.
The bank's management will intensify work with borrowers to ensure timely repayment of debt under loan schedules and prevent deterioration of the quality of assets, as well as, meet major corporate depositors to ensure stable and diversified funding base.
“The Bank will enhance its management team with experts that have extensive experience in local and international markets. By the end of March, the management will develop new strategy of self-sustainable development, integral part of which will be the diversification of business through attracting new customers from the market and development of retail business based on digital banking, the improvement of the work of the Collection Department, cost optimization, improvement of quality of services and development of sales channels and much more”.
These and other measures are expected to enable the bank to stabilize and improve key performance indicators affecting the bank's ratings.