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“Expert RA Kazakhstan” rating agency (RAEX) confirmed the credit rating of BTA Bank JSC at B+ level and reliability of the bonds at B+ level

18.08.2014 11:46:46

"Expert RA Kazakhstan" rating agency (RAEX) confirmed the credit rating of BTA Bank JSC at B+ level (sufficient level of creditworthiness) and reliability of its bonds (ISIN - XS0867573890/XS0867478124) at B+ level (sufficient level of reliability).

Positive impact on level of rating exert upon high level of capital adequacy (as of January 1, 2014, K1-2 = 25%, K2 = 27.7%), high diversification of large credit risks acceptable level of redundancy in the loan portfolio (as of January 1, 2014 delta between provision ratio and bad share loans - 5.2 p.p.). Also, the agency's analysts noted the high quality of the securities portfolio and developed branch network.

Factors constraining the rating are high industry concentration of the loan portfolio, negative profitability ratio (for 2013 ROA = -0.03%, ROE = -0.19%) and a high level of accepted currency risk (as of January 1, 2014, Net FX position by all currencies - 21.5%). Among other factors constraining the rating level, noted the low values ​​of the liquidity ratio, insufficient insurance coverage of the collateral, as well as labour turnover.

"This year there was a change in the ownership of the Bank, which may result of a business model change and the growth of the risks associated with operating and financial activities. This factor is negatively evaluated by Agency" - said the head of the "Expert RA Kazakhstan» (RAEX) rating unit, Zhanadiar Raissova.

As of January 1, 2014, according to the ranking of the NBRK, the bank took 3rd place in assets size and 2nd place on the loan portfolio size among STB RK. The bank's assets amounted to 1,551.6 billion tenge, equity - 234.6 billion tenge according to the NBRK.