S&P Global Ratings Confirms Tengri Bank’s “B+/B” Rating

On Dec. 22, the S&P Global Ratings confirmed the “B+/B” long-term and short-term credit ratings of the Joint Stock Company Tengri Bank.

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The outlook of the changes in the ratings is negative.

At the same time the S&P Global Ratings confirmed the bank’s credit rating at the national scale as “kzBBB-.”

The bank’s plans are being implemented in accordance with its development strategy. The stable growth and good financial indicators have helped its management open branches and offices in Astana, Karaganda, Temirtau, Pavlodar, Aktau and Shymkent.

The largest shareholder of the bank with 49 percent of shares is the Punjab National Bank, the second largest state bank in India, with assets of over US$100 billion. Punjab National Bank serves approximately 80 million customers around the world.