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Standard & Poor’s Ratings Services assigned ratings to JSC «SB «PNB»-Kazakhstan».

21.01.2015

Press release

On January 8, 2015, Standard & Poor’s Ratings Services assigned its «B+» long-term and «B» short-term counterparty credit ratings and national scale rating «kzBBB-» to JSC «SB «PNB»-Kazakhstan». The outlook is stable.

The stable outlook on PNB Kazakhstan reflects experts view that the very strong capital position and ample liquidity should persist. Also, S&P experts recognize that PNB Kazakhstan benefits from the managerial, operational, and financial support it receives from parent Punjab National Bank (PNB).

Moreover, S&P experts view positively that the bank emphasizes quality growth without any ultimate market share targets. The bank’s strategy for 2015-2017 envisions more dynamic development than in the first years under PNB’s ownership.

S&P assess PNB Kazakhstan’s risk position as «moderate» in comparison with peers in Kazakhstan with high operational risk.

 

Reference:

JSC «SB «PNB» - Kazakhstan» is a subsidiary of Punjab National Bank, one of the largest nationalized bank based in India since 1895 and serving 87 million customers through more than 6000 different offices. It has presence in many countries worldwide.

In 2011, Punjab National Bank India has acquired a controlling stake in Kazakh bank JSC «Danabank», which in turn was renamed JSC «SB «PNB» – Kazakhstan». Branch network covers: Alamaty, Astana, Pavlodar and Karaganda cities.

For more information and commentary please talk to PR Department of the bank:

Yerzhan Alimbay

244 34 34 (ext.170)

email: e.alimbay@pnbkaz.kz



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