Forshtadt JSCB's Credit Rating Affirmed
The rating is underpinned by the bank's high capital stability and good quality of the equity structure, sufficient quality of assets and conservative credit policy, stable and high level of liquidity, which is supported by term structure of the resource base, as well as possibility of support from the shareholders, cooperation with SME Bank JSC on account of joint programs of lending to small and medium-sized businesses, and maintenance of adequate interest and commission income levels.
The rating is constrained by high concentration in the largest customers on both sides of the balance sheet, gradual reduction in the loan portfolio quality, absence of the development dynamics as of the last reporting period and the growth of the main financial indicators, along with the market share. At the same time, the Agency highlights that the bank has all the necessary means to expand influence in both traditional segments and new markets and activities.
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