Fitch confirmed the ratings of House Construction Savings Bank at the BBB-level, the forecast is "Stable"
On April 23, 2018 - The international rating agency Fitch Ratings confirmed long-term issuer default ratings of JSC House Construction Savings Bank of Kazakhstan (the affiliated organization of “Baiterek” holding) at the BBB-level. The forecast for ratings - "Stable".
- Today House Construction Savings Bank takes leading positions in the market of mortgage lending, so in 2017 the bank issued three quarters of a mortgage in the country. The present rating and its confirmation specifies stability and reliability, efficiency of a management activity and the business strategy of bank and also good creditworthiness, low expectations on credit risks, - explained the chairman of the board of JSC House Construction Savings Bank of Kazakhstan Lyazzat Ibragimova.
Confirmation of long-term rating of House Construction Savings Bank reflects opinion of the agency on high readiness of the state to provide support in case of need as the Bank plays an important role not only in implementation of system of housing construction savings, but also in general in the mortgage market of Kazakhstan.
At the same time, according to Fitch Ratings, House Construction Savings Bank will hardly need similar support in the medium term as the credit portfolio of bank steady and an indicator of the idle credits is only 0,3%. Though on average this indicator among all Kazakhstani banks is at the level of 10%. Also the agency notes that the bank has a good inventory of the equity (fixed capital on methodology of Fitch of 57% at the end of 2017) and a comfortable inventory of liquidity (38% of all assets for the end of 2017).
Now in House Construction Savings Bank there are more than 1 million investors. Only in 3 months of the current year of house construction savings were a part of the system about 60 thousand new participants. Loans on improvement of the housing conditions in 2018 were already obtained by 7 000 Kazakhstan citizens.
- Today House Construction Savings Bank takes leading positions in the market of mortgage lending, so in 2017 the bank issued three quarters of a mortgage in the country. The present rating and its confirmation specifies stability and reliability, efficiency of a management activity and the business strategy of bank and also good creditworthiness, low expectations on credit risks, - explained the chairman of the board of JSC House Construction Savings Bank of Kazakhstan Lyazzat Ibragimova.
Confirmation of long-term rating of House Construction Savings Bank reflects opinion of the agency on high readiness of the state to provide support in case of need as the Bank plays an important role not only in implementation of system of housing construction savings, but also in general in the mortgage market of Kazakhstan.
At the same time, according to Fitch Ratings, House Construction Savings Bank will hardly need similar support in the medium term as the credit portfolio of bank steady and an indicator of the idle credits is only 0,3%. Though on average this indicator among all Kazakhstani banks is at the level of 10%. Also the agency notes that the bank has a good inventory of the equity (fixed capital on methodology of Fitch of 57% at the end of 2017) and a comfortable inventory of liquidity (38% of all assets for the end of 2017).
Now in House Construction Savings Bank there are more than 1 million investors. Only in 3 months of the current year of house construction savings were a part of the system about 60 thousand new participants. Loans on improvement of the housing conditions in 2018 were already obtained by 7 000 Kazakhstan citizens.
