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S&P Global Ratings agency has upgraded Kaspi Bank's rating

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S&P Global Ratings has upgraded Kaspi Bank's long-term credit rating to BB+ on the international scale and to kzAA+ on the national scale. The agency noted the bank's strong customer base, brand recognition, and superior financial performance compared to peers. Projected high profits will help build reserves to ensure resilience in stress scenarios.

International rating agency S&P Global Ratings has raised the long-term credit rating of Kaspi Bank on the international scale to BB+ and the bank’s rating on the national scale to kzAA+.

S&P noted the well-established customer base and brand recognition of Kaspi, as well as the positive experience in the strategic development of its business structure.

According to analysts, Kaspi’s financial performance exceeds that of comparable companies. The rating also reflects expectations that Kaspi’s business structure, proven strategy, and strong market positions will ensure the company’s resilience. Projected high profitability may help Kaspi build sufficient reserves to enhance stability in stress scenarios and enable it to manage elevated risks better than many comparable companies.

Source: @kaspi.kz

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S&P Global Ratings agency has upgraded Kaspi Bank's rating

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