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.
More Stories
- EUROPEAN INVESTMENT BANK: Bosnia and Herzegovina: EIB provides €340 million to advance works on northern part of Corridor Vc
- ABN AMRO SERVICES COMPANY: Fempower Your Growth: like tindering with female entrepreneurs
- EUROPEAN INVESTMENT BANK: Egypt: Team Europe - EIB and Banque Misr work together to support private businesses and speed up the recovery of SMEs from COVID-19
- ASIAN DEVELOPMENT BANK: ADB, NNS Sign Loans to Build Milestone Solar Power Project in Uzbekistan
- ASIAN DEVELOPMENT BANK: $123 Million ADB Loan to Help Build Elevated Walkways in Manila
- EUROPEAN INVESTMENT BANK: Germany: EIB provides €15 million of funding to IDnow
- ASIAN DEVELOPMENT BANK: CAREC Endorses Long-Term Strategy to Promote Safe, Sustainable, and Inclusive Tourism
- EUROPEAN INVESTMENT BANK: EIB Group provides €150 million to support artificial intelligence companies
- ASIAN DEVELOPMENT BANK: ADB Approves $430 Million to Help Rehabilitate Power Distribution Networks in Uttar Pradesh, India
- EUROPEAN INVESTMENT BANK: Greece: EIB backs EUR 470 million road safety scheme