International rating agency Moody's to affirm ATFBank rating, outlook Stable

On January 26, 2021 international rating agency Moody's Investors Service affirmed long-term ratings of ATFBank of B2. Outlook on long-term ratings of the Bank also remained stable.  

In its report the agency highlighted that the rating action followed joining by ATFBank the Jýsan Group after Jýsan Bank acquired shares in ATFBank in December 2020. Moody's analysts have also affirmed B2/Not Prime and issuer’s rating of First Heartland Securities (FHS) whose core operating entity is Jýsan Bank. 

The Agency noted that affirmation of the two entities' ratings with a stable outlook reflects Moody's view that Jusan's takeover of a 99.77% stake in ATFBank will increase the systemic importance of the new banking conglomerate whose market share by assets of around 10% makes it Kazakhstan's third-largest banking group.  

According to the National Bank of the Republic of Kazakhstan, as of December 1, 2020 ATFBank confidently ranks among the largest banks in Kazakhstan and ranks 8th by assets, 6th by loan portfolio and 10th by deposit portfolio with market shares of 4.0%, 5.3% and 3.6%, respectively.