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ATF Bank
Standard & Poors, Dec 2004
Abstract
Good financial performance and business growth for the past several years; Improving commercial profile and brand recognition; Good quality management compared with Kazakh peers'; and Focused and sustained strategy of business diversification. Potential risks stemming from ambitious growth strategy amid still risky operating environment; Funding concentrations; Marginal capitalization; Limited ownership transparency; and Inferior competitive position compared with that of the three largest Kazakh banks. The ratings on ATF Bank (ATFB) reflect the continued high-risk operating environment in the Kazakhstan (Republic of) (BBB-/Stable/A-3), the bank's concentrations in funding and its rapid loan growth. These vulnerabilities are partially offset by ATFB's fairly good track record of strong financial performance and business growth, and its improving customer franchise. ATFB is the fourth-largest private...
Companies mentioned in this report are: ATF Bank,Kazakhstan (Republic of),Kazkommertsbank (JSC),Halyk Savings Bank of Kazakhstan,BTA Bank J.S.C.
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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