“The AQR results give evidence of Altyn Bank’s stable financial position. As at the date of the AQR, Tier I capital adequacy was 19.4%, with a minimum value of 7.5%. After the finalization of the AQR results, the capital adequacy ratio remains unchanged, the capital stock is 11.9%, no additional provisions are needed.
The high liquidity cushion and capital adequacy indicators show a high degree of the bank’s sustainability, which is also proved by the bank’s ratings assigned by international rating agencies. Altyn Bank has the highest ratings (Fitch – “BBB-”, Moody’s – “Ba1”) among Kazakhstani commercial banks.
“The AQR results show that Altyn Bank strictly complies with the regulator’s requirements. Our undeniable advantages, such as high asset quality, credit ratings and feasibility of services, allow us to confidently set challenging goals for the bank’s further development” Marat Almenov, Chairman of the Management Board of Altyn Bank JSC, makes his comment.
The Asset Quality Review (AQR) was conducted by the National Bank of the Republic of Kazakhstan with the involvement of independent auditing firms on the basis of the international financial reporting and prudential regulation standards. The AQR procedure was required to validate information on the real value of assets of Kazakhstani banks, improve the regulatory regime and the efficiency of business processes and ascertain sustainability of banks operating in Kazakhstan.
JSC «Altyn Bank» (SB of China CITIC Bank Corporation Ltd), previously known as JSC SB «HSBC Bank Kazakhstan», has been present in the financial market of Kazakhstan for more than 20 years. JSC «Altyn Bank» is a universal commercial bank servicing corporate and retails clients, is ranked #13 in terms of assets, and has the highest ratings (Fitch – “BBB-”, Moody’s – “Ba1”) among commercial banks in Kazakhstan. JSC «Altyn Bank» introduced the first full-scale digital bank in Kazakhstan under the brand “Altyn-i” with a full range of financial services for individual clients. The Bank has 4 branches in Nur-Sultan, Almaty, Atyrau, and Aktau, a branch in IFCA and 2 service centers in Almaty.
For more information, please, contact:
АО «Altyn Bank» (ДБ China CITIC Bank Corporation Limited)
Tel.: +7 (727) 356 62 73, (ext. 30 537)