Fitch Ratings has affirmed the rating of ATF

we will Remind that earlier the international Agency Moody’s Investors Service has today upgraded the ratings of six ATF. Another authoritative international Agency S&P Global Ratings also affirmed ATF at “B-/B” with “Stable”Outlook.

Due to the sustained dynamics of development of JSC “ATF Bank” firmly ranks among the largest banks of Kazakhstan

Thus, according to the national Bank of Kazakhstan on November 1, 2019, among all commercial banks ATF Bank is:

  • 6 place on volume of assets market share of 5.2%
  • 5 place in terms of loan portfolio – market share of 6.8%
  • 6 place on volume of the Deposit portfolio — market share of 4.8%

In its comments, Fitch Ratings analysts emphasize that the Former is “potentially less problems with asset quality in respect of capital” and “substantial Junior debt reserves in ATP (10% of the weighted assets and the regulatory requirements at the end of the 3rd quarter of 2019), which can be used to cover losses in case of need”.

e839ce101537f3f471f2bcea99497b8f - Fitch Ratings has affirmed the rating of ATFFitch Ratings

In addition, Fitch analysts noted the improvement in the ability of ATF to cover losses as per statement of profit and loss. In the opinion of analysts of the Agency also stated that they have been addressed and the events that have occurred in the financial market of Kazakhstan in the last two years.

“External conditions for banks will remain tight over the next few years. This is to be expected. However, this does not negate the strategic objectives of ATF – rather is regarded as a challenge, overcoming which, we will pump the level of their competences on the market of banking services”,

— commented Sergei Kovalenko, Chairman of the Board of ATF.

He also noted that the Bank fully complied with all the requirements of the regulator in the part of prudential standards and the level of liquid assets currently exceeds 270 billion tenge. This in turn means that the Bank has all the necessary resources that will allow ATFBank to develop in the framework of the adopted strategy, and to fulfill its obligations before clients timely and in full.

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