Eurasian Bank has increased its capital by KZT 6 billion
30.11.2015, Almaty. Shareholders of Eurasian Bank have increase the capital of the Bank by KZT 6 bln; in the result, the regulatory equity of the Bank has exceeded KZT 92 bln. The decision on capital growth was made on October 12 by the Minutes of the Board of Directors meeting.
Due to the above growth, K1-1 capital adequacy ratio of Eurasian Bank has raised to 8.6%, which is historical maximum indicator, and it substantially exceeds minimum requirements of the regulator (5% in 2015 and 5.5% since 2016).
Funds invested by shareholders will allow Eurasian bank more actively build up its loan portfolio, which was more than KZT 620 bln as of November 1, 2015. In addition, raised liquidity will allow the Bank to support its customers during the complicated period, thus maintaining the loan portfolio quality at the highest level on the market. According to the forecast of Eurasian Bank management, coverage of non-performing loans with the tier one capital and provisions will reach 100% by the end of 2015.
“We are grateful to shareholders for their support, which will allow the Bank to develop and grow the business during next year”, - commented Michael Eggleton, CEO and member of the Board of Directors of Eurasian Bank.
About Eurasian Bank:
Eurasian Bank is a universal commercial Kazakhstan bank catering products and services to clients in all segments. The Bank was founded in 1994. It covers all regions of Kazakhstan and has a subsidiary in Russia (Moscow) with branches in Omsk and Novosibirsk. It is rated “B+” by S&P. Eurasian Bank is a member of KASE and a party to KazPrime.
The Bank’s accomplishments were acknowledged by the following awards: Best Bank – Kazakhstan in 2014 (IAIR), Best Bank – Kazakhstan in 2013 and 2014 (EMEA Finance), Domestic Retail Bank of the Year, Kazakhstan in 2012, 2013 and 2015 (Asian Banking & Finance), Best Bank in Kazakhstan, 2012 (Euromoney), and Bank of the Year 2012 and 2014 in Kazakhstan (The Banker).
Eurasian Bank JSC
tel. +7 (727) 2 599 599 (ext. 3288)