S&P rates PNB-Kazakhstan B+

Standard & Poor’s said it assigned a B+ long-term and B short-term counterparty credit ratings to PNB-Kazakhstan, along with a kzBBB- Kazakhstan national scale rating.

The outlook is stable.

The ratings reflect the structurally high operating risks for banks operating primarily in Kazakhstan, S&P said.

The ratings also consider the company’s very small competitive position in the Kazakh banking sector, untested growth strategy over a full economic cycle, concentrated customer base, low core profitability and sizable legacy problem portfolio, the agency said.

The ratings also take into account PNB-Kazakhstan’s moderately strategic importance to its parent, Punjab National Bank, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.