Kazakhstan’s Eurasian Bank To Increase Capital

Kazakhstan’s Eurasian Bank To Increase Capital

Equity of Eurasian Bank has been increased by KZT 6 bln. Thus, the shareholder’s capital of the Bank has increased to KZT 57.1 bln, and regulatory capital has exceeded KZT 103.9 bln, reports KazWorld.info with reference to the official website of Eurasian Bank.

As a result, capital adequacy ratios of Eurasian Bank, which complied with the regulator’s requirements before, now substantially exceed them:

– k1-1 and k1-2 ratios have increased to 9.8%
– k2 ratios have grown to 11.7%

Total number of placed ordinary shares of the Bank have grown to 918 471, the price of one share is KZT 6 532.

“Another capital increase demonstrates not only the shareholders support, but also indicates that Eurasian Bank is confidently looking into the future. Our Bank intends to develop and provide first class service to our customers, which today are more than 2 million”, commented Pavel Loginov, CEO and a member of the Board of Directors.

We remind that the last increase in the Eurasian Bank capital by KZT 15 bln was in September, 2016.

 

Eurasian Bank JSC is a fully owned subsidiary of Eurasian Financial Company JSC.

Eurasian Bank is the ninth largest lender in Kazakhstan, headquartered in Almaty. It was founded in 1994 as a closed joint-stock company, and reregistered in 2003 as a joint stock company due to joint stock company law changes. The Bank is owned 100% by Eurasian Financial Company JSC, which is 100% owned by three equal shareholders: Alexander Mashkevich, Alijan Ibragimov, Patokh Shodiyev (aka Patokh Chodiev). The three men are known as the “kazakh trio”.

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