Fitch: Eurasian Bank view to stable

Fitch Ratings said it revised the outlook of Eurasian Bank to stable from negative and affirmed its long-term issuer default rating at B-.

The outlook revision reflects the bank's now solid loss absorption capacity compared to credit risks faced, Fitch said. It also factors in the better prospects for the Kazakh economy during the remainder of 2010, the agency said.

The ratings remain constrained by the bank's weak operating profitability, undiversified funding, still high customer concentrations on both sides of the balance sheet, significant related party business and its plans to grow rapidly during 2010 without attracting further capital injections, Fitch said.

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