S&P Global Ratings has raised its outlook for Bank CenterCredit

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2024-03-26

On March 19, 2024, the international agency S&P Global Ratings changed the outlook for Bank CenterCredit from “Stable” to “Positive”. The national scale rating was increased from "kzA-" to "kzA", long-term and short-term credit ratings were confirmed at the level of "BB-/B".

S&P analysts highlight the growing importance of Bank CenterCredit for the financial system of Kazakhstan, noting its position as the third-largest bank in the country in terms of assets and loan book, as well as holding more than 10% of the market share in retail deposits.

" The positive outlook on BCC reflects our expectation that, within the next 12-18 months, we could raise the ratings if industry risks ease for banks operating in Kazakhstan" S&P said in a statement.

last year in July, the international agency S&P Global Ratings upgraded the rating of Bank CenterCredit to BB-