Milestones

January 2011: Increase of national scale rating by Standard & Poor’s of Eurasian Bank from “kzBB” to “kzBB+”, confirmation of the partners credit ratings at the level B/B, and revision of rating outlook of Eurasian Bank from “Negative” to “Stable”. Eurasian Bank is the only Bank which ratings have not been affected by economic default.

Moody’s rating of deposits in local and foreign currency B1, outlook – “Negative”.

February 2011: Acquisition of Micro Credit Organization ProstoCredit from Société Générale

March 2011: Moody's assigned rating B1 on the following debt instruments:

  • KZT10000M priority unsecured straight bond with repayment period in 2023,
  • KZT5000M priority unsecured straight bond with repayment period in 2019.
  • Moody's assigned rating B2 to the following subordinated debt instruments:
  • KZT5000M subordinated straight bond with repayment period in 2015,
  • KZT15000M subordinated straight bond with repayment period in 2023.

March 2011: Purchase of MCO «ProstoCredit» (SocieteGenerale) in order to expand the volumes of retail business over 450 points of sales throughout the territory of Kazakhstan, increase of Eurasian Bank’s client base by 250 000.

June 2011: Moody’s assigned long term rating B1of the long term debt bonds in local currency to Bank’s bond emission to the amount of KZT22 billion (USD151million).

1st half of 2011:

  • Rating agencies Moody’s and Standard & Poors confirmed the ratings of Eurasian Bank for the first half of 2011 at the level B1 with negative outlook and B with stable outlook, correspondingly.
  • Eurasian Bank has become one of the best banks in thebanking sector of Kazakhstan according to the indicators ROAE and ROAA at thelevel of 16.9% and 1.3% as of the end of the first half of 2011 correspondingly.
  • The total value of assets as of July 1, 2011 reduced by 7% in comparison with the same period of the previous year down to KZT 338 billion, whereas the loan portfolio increased by 31.7% for the same period, in accordance with the medium-term strategy in order todecrease negative spread, which occurred as a result of excessive liquidity, and to increase the high-yielding assets share.
  • Fast growth of net profit to the level of KZT 2.3 billion as of the end of June 2011 compared to the loss in the amount of KZT 1.3 billion at the end of June of theprevious year.
  • Starting from the end of 2010, the number of sales points has grown by 74.2% up to 1136 as of the end of June 2011.
  • As of July 1, 2011, the number of clients was 436 467, increasing by 78.2% during the year.
  • Fee income / operating income made out 15,3% as of July 1, 2011.
  • The total income before provisions with tax deduction made out KZT 3.5 billion as of July 1, 2011 having increased by 204.6% comparing to KZT 1.2 billion as of July 1, 2010.
  • In order to increase profits, the share of loan portfolio in Bank’s joint assets has been increased by 21% comparingto the same period of the previous year.
  • Eurasian Bank has one of the best indicators of received interest income ratio to accrued interest income making out 95.4% as of July 1, 2011 comparing to 89.1% as of July 1, 2010.
  • The net interest margin (NIM) for the year to date increased at the end of June 2011 to 4.7% fixing a leap by 176.5% comparing to June 2010.
  • The Bank continuously works on reduction of cost-income ratio, and at the end of the first half of this year the ratio is 63.5% (81.6% in the same period of 2010).

 

December 2011: Standard & Poor's raises the credit rating of the Bank to B/B, the local rating from kzBB to kzBB+, and changes the outlook from negative to stable

December 2011: The Bank ends the year with more than 450 points of sale throughout Kazakhstan. Client numbers increased by 250,000 to 419,000