Moody’s Investors Service (Moody’s) has announced its second rating upgrade for Eurasian Bank within the past six months, signaling the financial institution’s continued positive trajectory.
The latest upgrade sees the long-term deposit ratings advanced to Ba3 from B1, and the underlying credit rating raised to b1 from b2. Furthermore, Moody’s has maintained a positive outlook on the long-term deposit ratings.
This upgrade is significant as it reflects Eurasian Bank’s marked improvement in financial fundamentals. It is the second rating upgrade in the last six months and highlights the improvement in the bank’s financial fundamentals: asset quality, profitability, and solvency.
The bank has also benefited from a favorable operating environment amid positive economic and institutional developments in Kazakhstan.
“The double rating upgrade for the half-year is a landmark event. It results from our healthy ambitions and ability to adapt effectively to market changes. We are pleased that experts appreciate our strategy, focused on a reasonable balance of risks and returns and aimed at developing long-term relationships and the financial well-being of our clients,” said the bank’s Chairman of the Board, Lyazzat Satieva, KZ Kursiv Media reported.
