S&P: JSC Nurbank unchanged

Standard & Poor's said that the ratings and outlook on JSC Nurbank (B/stable/C) are not immediately affected by the ongoing police investigation of its former CEO and his deputy, who both recently left the bank, on suspicion of false business activities.

Although this affair's effect on Nurbank's liquidity has been limited, it represents potential reputation and legal risk for the bank, the agency said.

The current ratings on the bank incorporate the possibility of some tightening in its liquidity position and narrowing of its franchise, which could, however, put downward pressure on the ratings and outlook, depending on their extent, S&P noted.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.