Kazkommertsbank (JSC)

  • ID: 1787034
  • November 2002
  • Standard & Poors
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The ratings on Kazakhstan-based Kazkommertsbank (JSC) (KKB) reflect the improving economic climate and improved diversification in the bank's lending and funding. KKB has been using Kazakhstan's improved economic prospects to its advantage, attracting primary funds and growing its profitable lending business. The reversal of the bank's policy on financing the equity investments of its sister company, Central Asian Industrial Investments (CAII), should improve KKB's credit profile. KKB also resolved its two largest problematic related party loans with CAII and Air Kazakhstan, which reduced the concentration of its loan portfolio to single-party risk, as well as improving asset quality. Although the Kazakh economy has been showing positive trends since 2000, the bank retains significant concentrations in loans and funding in a...

Companies mentioned in this report are: Kazkommertsbank (JSC)
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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Kazkommertsbank (JSC)

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