TEXT-S&P summary: Kazkommertsbank (JSC)
(The following statement was released by the rating agency)
Sept 14 -
Summary analysis -- Kazkommertsbank (JSC) ------------------------- 14-Sep-2012
CREDIT RATING: B+/Negative/B Country: Kazakhstan
Primary SIC: Commercial banks,
Mult. CUSIP6: 486668
Mult. CUSIP6: 48668A
Credit Rating History:
Local currency Foreign currency
12-Dec-2011 B+/B B+/B
11-Jun-2009 B/C B/C
06-May-2009 B+/B B+/B
16-Feb-2009 BB-/B BB-/B
11-Dec-2007 BB/B BB/B
Ratings Score Snapshot
Issuer Credit Rating B+/Negative/B
Business Position Moderate (-1)
Capital and Earnings Moderate (0)
Risk Position Moderate (-1)
Funding and Liquidity Average
and Moderate (-1)
GRE Support 0
Group Support 0
Sovereign Support +2
Additional Factors 0
Major Rating Factors
-- Strong market shares in lending and deposits.
-- High systemic importance.
-- Access to state funding.
-- High sector concentrations.
-- High single-name concentrations.
-- High level of long-term problem loans.
-- Low provisioning levels.
-- Low capacity to absorb possible losses.
Standard & Poor's Ratings Services' outlook on Kazakhstan-based Kazkommertsbank (KKB) is negative, reflecting the possibility of a downgrade if the bank's financial profile fails to improve in the next 12-24 months.
In particular, we could lower the ratings on the bank if KKB's asset quality deteriorates further and provisioning levels do not improve. We could also downgrade the bank if pressure on capital intensifies, such that the projected risk-adjusted capital (RAC) ratio declines below 5%. This could occur if earnings generation remains weak or if the proportion of risky exposure such as investments in real estate and construction in the asset mix increases.
- U.S. war veteran released by North Korea returns home |
- South Korea expands air defense zone to partially overlap China's |
- Dynasty's Congress party punished in Indian state elections
- South Korea to make announcement on air zone; expansion is anticipated |
- Pennsylvania newlyweds "just wanted to murder someone together:" police