Fitch revises view on three Kazakh financials

Fitch Ratings said it changed the outlooks for JSC Halyk Bank, JSC SB Alpha Bank (ABK) and ForteBank JSC to stable from negative. The agency also affirmed their issuer ratings.

“The revision of the outlooks and affirmation of ratings on Halyk, ABK and Forte reflects Fitch's expectations that the banks' strong pre-impairment profitability and substantial capital buffers will be sufficient to mitigate the ongoing pressure on their asset quality, stemming from the economic recession, lower oil prices and negative implications from the spread of Covid-19 on the broader economy,” Fitch said in a press release.

The outlook for Kazakhstan remains negative.

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