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News19.12.2022

Moody's Investors Service International Rating Agency Upgraded Jusan Bank Rating Outlook from ‘Stable’ to ‘Positive’

Moody's Investors Service international rating agency acknowledged the long-term rating of Jusan Bank on deposits in national and foreign currencies at B1 and upgraded the outlook from ‘stable’ to ‘positive.’ The agency adopted this decision on December 14, 2022.

Moody’s also acknowledged the baseline and adjusted baseline credit assessment (BCA) of the Bank at b3. The short-term rating of deposits in national and foreign currencies is at NP. The long-term and short-term counterparty risk rating (CRR) in national and foreign currencies are at Ba3/NP. The long-term and short-term counterparty risk assessment are at Ba3(cr)/NP(cr). The overall outlook was also upgraded from ‘stable’ to ‘positive.’

At the same time, Moody's acknowledged the long-term national scale deposit rating at Ba1.kz and the long-term national scale CRR at Baa2.kz. 
Moody's analysts noted that they decided to do so as they are confident that the Bank business model shall evolve further, increase profits and improve the quality of assets and solvency. There was also a positive change in corporate risk management as the Bank Management decided to mitigate risks and undertake no aggressive takeovers.  

The agency also factors in the Bank's liquid assets that reached 60%+ of the Bank's total assets in late Q3 2022. 
It is also worth noting the prudential ratios of Jusan Bank that proceed to exceed significantly the minimum requirements set by the Regulator and reflect a large margin: as of early November 2022, the equity capital adequacy ratio (k1) of Jusan Bank was 30%, 4 times exceeding the established ratio, while the current liquidity ratio (k4) exceeded the established ratio by more than 7 times and made up 224%.

*Licence No. 1.2.35/225/37 dated April 07, 2021, issued by the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market.

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