S&P rates Alliance Bank B+, B

Standard & Poor's said it assigned a B+ long-term and B short-term counterparty credit ratings to Alliance Bank JSC.

The outlook is stable.

According to S&P, the ratings reflect high credit risks in its unseasoned and rapidly built-up loan portfolio, substantial dependence on confidence-sensitive wholesale funding and its young franchise, which is vulnerable to above-average economic and industry risks in the Republic of Kazakhstan (foreign-currency BBB-/stable/A-3, local-currency BBB/stable/A-3).

The agency said supportive rating factors are the bank's adequate risk management, supportive shareholders, improved profitability, competent management team and strong commercial dynamism, particularly in retail and small and midsize enterprise banking.

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