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KzRating has reduced the credit rating of BTA Bank from “BBB+” to “B+”, with uncertain outlook. |
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Tuesday, 16 June 2009 07:00 |
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Rating based on stable market positions, including abroad; balanced
structure of assets and liabilities, and established connections on
international markets.
The change is rating from BBB+ to B+ with uncertain outlook is because of the non-transparent strategy of the government, as the majority shareholder, towards the bank and the uncertainty of restructuring its liabilities and development, its high credit risks in the medium term, and its losses and risk of losing assets in the CIS markets.
About the bank:
BTA Bank is a system-critical Kazakh bank and the nucleus of a major financial group active in all segments of the market. The Bank is a leader in both corporate and retail services and operates one of the largest branch networks in Kazakhstan; it has also expanded into neighbouring countries. Following a government take-over a majority stake is now controlled by the Samruk-Kazyna National Prosperity Fund.
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