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Alliance Bank JSC Sep 11
Standard & Poors, Sep 2011
Abstract
A government-related entity with a 'moderate' likelihood of extraordinary government support. Restructuring has enabled it to normalize its business activities. Negative capitalization under International Financial Reporting Standards. High, if reducing, proportion of nonperforming loans. Low core profitability. The ratings on Kazakhstan-based Alliance Bank JSC reflect Standard & Poor's Ratings Services' view of negative capitalization under International Financial Reporting Standards (IFRS), high share of nonperforming loans (NPLs), and low core profitability. Positive rating factors are Alliance Bank's status as a government-related entity (GRE) with a 'moderate' likelihood of extraordinary government support, and normalization of business activities following the restructuring. On June 30, 2011, Alliance Bank was the sixth-largest bank in Kazakhstan. It had total assets of Kazakhstani tenge (KZT) 485 billion...
Companies mentioned in this report are: Alliance Bank 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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