Outlooks On Kazakhstan-Based Kazkommertsbank (JSC), JSC Nurbank, And AsiaCredit Bank Revised To Stable; Ratings Affirmed

Standard & Poors, January 2011

Abstract
OVERVIEW In our view, the Republic of Kazakhstan is showing a robust economic recovery and operating conditions in the banking sector have improved, easing the pressure on asset quality and liquidity at Kazkommertsbank (JSC), JSC Nurbank, and JSC AsiaCredit Bank, following a period of heightened credit and liquidity risks over the past three years. We are therefore revising our outlooks on all three banks to stable from negative and affirming our long- and short-term ratings. We are also assigning our 'kzBB+' Kazakhstan national scale rating to Nurbank. The stable outlooks reflect our view of the reduced external pressure on the banks' financial and business profiles and our expectation that the banks will gradually clean their credit portfolios, continue managing their...

Companies mentioned in this report are: Kazkommertsbank (JSC),JSC AsiaCredit Bank,JSC Nurbank
Action: Outlook: Negative

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Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Kazkommertsbank (JSC),JSC AsiaCredit Bank,JSC Nurbank

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