S&P Global Ratings upgrades Bank CenterCredit rating to BB
International rating agency S&P Global Ratings upgraded the long-term issuer credit rating of JSC Bank CenterCredit (BCC) from BB- to BB, affirmed the short-term issuer credit rating of B, and upgraded the bank's national scale rating from kzA to kzA+. The rating outlook is Stable.
The Stable outlook on BCC's rating reflects the agency's expectations that the bank will maintain its market position and continue to demonstrate a high ability to generate profits, while maintaining adequate capitalization indicators in the next 12 months.
As of December 1, 2024, BCC assets amounted to 6.6 trillion KZT (3rd position in the ranking of second-tier banks of the Republic of Kazakhstan), loan portfolio 3.9 trillion KZT (3rd position), customer deposits 4.9 trillion KZT (2nd position in legal entities, 3rd position in individuals); all prudential and other requirements of the regulator are met with a large margin. The bank has an extensive network of branches throughout the country – 20 branches, 1 branch in the AIFC and 156 outlets and serves 3.3 million clients.
The full list of affected ratings can be found in the official press release of S&P Global Ratings:
https://disclosure.spglobal.com/ratings/ru/regulatory/article/-/view/type/HTML/id/3298854