Moody's rating agency has improved its outlook on deposit and credit ratings of Kazakhstan's Kazkommertsbank, the largest private bank in the country, from "negative" to "stable."
The agency said the upgrade reflects the gradual stabilization of profitability, a significant increase in liquidity and capital adequacy ratios well above the minimum requirements.
Kazkommertsbank, with a 24 percent market share, provides banking services and other financial products to retail customers and large and medium-sized corporations in all sectors of the Kazakh economy.
Headquartered in Almaty, the bank serves retail clients through a network of branches in 45 cities throughout Kazakhstan under the KAZKOM logo.
In addition, Kazkommertsbank has international banking subsidiaries in Kyrgyzstan, Tajikistan and the Russian Federation.
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