Eurasian Bank (Kazakhstan) named Best Bank in Kazakhstan by magazine Euromoney
July 12. KASE
On 5 July, 2012, Eurasian Bank was awarded the title of the Best Bank in Kazakhstan at Euromoney’s Award for Excellence dinner in London. The annual award is based on the analysis of candidate banks’ operations performed by Euromoney financial analysts in over 100 countries.
The banks were rated based on their financial statements, position on the market and market share, quality of bank products and services, management, innovativeness and professionalism of its staff. Correspondent banks, market leaders, financiers and bankers opinions were considered as a part of the process.
According to Euromoney, Eurasian Bank is a stable financial institution, excelling in its growth and aiming at long-term and mutually beneficial relations with its clients and partners.
“With Kazakhstan’s leading lenders still struggling to cope with large legacy portfolios of impaired loans, the way has been left open for smaller and less encumbered players to make their mark. Ranked tenth by total assets Eurasian Bank nonetheless posted a sector-beating return on equity of 21% in 2011 after more than quadrupling net profit to KZT 6,05 bln”, Ч is said in the official Euromoney release dedicated to the Eurasian Bank nomination.
Eurasian Bank is one of the leading and fastest growing banks in Kazakhstan. During the first half of 2012 the assets of the Bank increased to KZT437,4 bln. Its loan portfolio raised to KZT332,6 bln and net profit reached KZT3,5 bln with ROE of 20,5%.
According to Michael Eggleton, CEO, the Bank truly deserves Euromoney’s recognition. “The award is yet another indication of our Bank’s excellent performance in 2011 and 2012. Given today’s global volatility, when choosing a bank, clients and investors seek reliability and financial stability. The award highlights the efficiency of the Bank’s strategy and continued improvement of its business”.
Eurasian Bank was chosen as the Best Bank in Kazakhstan for the first time. Previously Kazkommertsbank, Halyk Bank and BTA received this award.