EDB's outlook is revised to 'stable'

Almaty, 5 October 2016. Standard & Poor's Global Ratings revised Eurasian Development Bank's credit outlook to stable from negative, while affirming its BBB-/A-3 long- and short-term foreign-currency issuer credit ratings.

According to S&P, in the first half of 2016, EDB staunched the deterioration of its loan portfolio and returned to profitability. In addition, the agency pointed out that EDB also closed a structural funding gap in the tenge.

S&P Global Ratings also emphasised that the new management's actions had stabilised EDB's asset quality and, consequently, led to a return to profitability. The agency expects EDB's profits for the second half of the year will exceed first-half levels, with allocations to loan loss provisions either remaining low or even resulting in a release of provisions to income.

Additional Information about the Bank:

Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. EDB's charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.

Read more at https://eabr.org/