International rating agency Fitch Ratings has affirmed ATFBank JSC’s Long-Term Issuer Default Rating (IDR) at ‘B-’ with a Stable Outlook.
The agency's opinion on affirming ATFBank's rating and a stable outlook is based on analysis and comprehensive assessment of the main current indicators of ATFBank's performance, and also takes into account external economic factors that inevitably have an impact on the bank and its clients in the context of the coronavirus pandemic and anti-crisis measures taken at the state level.
According to Fitch Ratings “negative impact of the coronavirus pandemic and associated lower economic activity in Kazakhstan on the bank's financial profile have been manageable to date”. In turn, this is the result of targeted and consistent efforts taken by ATFBank for providing support to its customers, maintaining the operation of bank branches and availability of bank services throughout Kazakhstan under quarantine conditions, as well as active transfer of customers to a remote service format using digital services.
In the Agency’s report it is stated that “The bank's funding/liquidity profile is reasonable and remains a rating strength”. This confirms that ATFBank has necessary financial resources for timely and complete performance of its obligations to its customers and partners.
Earlier in 2020, ATFBank's ratings were also confirmed by the international agencies S&P Global Ratings and Moody's Investors Service.
ATFBank JSC is firmly one of the largest banks in Kazakhstan and according to the National Bank of Kazakhstan as of November 1, 2020, it ranks 8th by assets, 6th by loan portfolio and 9th by deposit portfolio (funds of individuals and legal entities) with market shares of 4.3%, 5.6% and 3.9% respectively.
ATFBank JSC (the Bank) is one of the largest Kazakh banks by assets. 25-year history and rich experience in cooperating with both Kazakh and foreign entities enabled the Bank to prove itself as a reliable and established player in the market of banking services.
The Bank has been continuously developing its universal portfolio and renders full range of banking services to corporate customers, retail customers, SMEs, Private Banking customers. The Bank has 17 branches in all regional centers of Kazakhstan and diversified network of outlets and ATMs.
Press Center of ATFBank JSC
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