Moody's Investors Service international rating agency upgraded ATFBank ratings

EVENTS

On November 14, 2019 the analysts of Moody's Investors Service, an international rating agency, announced an increase in the long-term ratings of ATFBank deposits in local and foreign currencies from B3 to B2. Five other ratings of the bank were also revised upward.
The outlook for the long-term local and foreign currency ratings of the bank, as well as the overall issuer's outlook is "stable".

According to Moody's analysts, "the upgrade of ATFBank ratings is due to recent improvements in the quality of the bank's assets, capital adequacy and profitability".

"The upgrade of the ratings and the change of outlook by Moody's international rating agency is a positive assessment of our entire team. And also an objective confirmation of the correctness of our chosen strategy and its consistent implementation. The Bank is focused on growth of the quality loan portfolio and diversification of risks, - comments Sergey Kovalenko, CEO of ATFBank. - The interests of our clients both in corporate and retail segments always determine our priorities, reliable financial partnership - this is what we give to our clients".

According to the agency, "in Q3 2019 several large loans were repaid, which together accounted for about 20% of the total problem loans of the bank as of the end of 2018. At the same time, the bank's net interest margin, pre-provision income and profit increased in the first half of 2019, so that the capitalization of profit increased the ratio of tangible common shares to risk weighted assets to 9.6% as of June 30, 2019 from 8.0% at the end of 2018".

Thanks to its stable development dynamics, ATFBank is firmly among the largest banks in Kazakhstan. Thus, according to the National Bank of Kazakhstan as of October 1, 2019, the bank was the 7th largest bank in terms of assets, as well as the 5th largest bank in terms of loan portfolio and the 6th largest deposit portfolio with market shares of 5.2%, 7.0% and 5.0%, respectively.

ABOUT THE BANK

ATFBank JSC (hereinafter - the Bank) is one of the largest banks in Kazakhstan by assets. The Bank's main shareholder with a 99.76% stake is KNG Finance LLP. 20-year history and rich experience of cooperation with both Kazakhstani and foreign structures allowed the Bank to establish itself as a reputable player in the market of banking services.

The Bank develops a universal profile and provides a full range of banking services to: corporate clients; retail clients; small and medium enterprises; Private Banking clients. The Bank has 17 branches in all regional centers of Kazakhstan and a wide network of branches and ATMs.

Expand