OREANDA-NEWS. December 08, 2010. "The Banker", an English magazine on international finance, has congratulated Bank CenterCredit  on winning the "Bank of the Year in Kazakhstan" title, reported the press-centre of KASE.

The Banker unveiled the winners of nominations "Personal Bank of the Year", the "Best Investment Bank", "Technologies of the year", "Deal of the Year", "Finance Minister of the Year", "The Best National Bank Chairman", and "The Bank of the Year" on last weekend in London. "The Bank of the Year" is Bank CenterCredit.

- This is a great honour for us and a big achievement, confirming the BCC's status as one of the country's sustainable and strategically successful financial institutions in the light of events on financial markets in the past couple of years, - said V. Lee, BCC's Chairman.

Traditionally, institutions from more than 140 countries and 6 regions compete for the "Bank of the Year" title. A crucial moment is selection of candidates. In order to win, they have to demonstrate a high profitability rate, and a unique strategic advantage. Moreover, all candidates are assessed based on the past 12 month ratios meaning that all banks irrespective of their prominence are competing on equal basis and thus have a real chance for victory not depending upon historically established circumstances.

- Bank CenterCredit has become "Bank of the Year" because its bad loans component is lower than that of the other Kazakhstan banks. Above that, another strength of the bank is implementation of the latest technologies provided by Kookmin Bank, its South Korean shareholder, - says Ph. Alexander, Director Finance of the Banker.

At CenterCredit they think that acknowledgment of their achievements despite highly volatile financial markets is a proof of successful and sound business. Of the same opinion is S. Akhanov, Council Chairman of Kazakhstan Financiers' Association. In one of his recent interviews with the leading business magazine, Mr. Akhanov mentioned that the value of The Banker's nominations had not depreciated nowadays, because the banks were facing the worsening market conditions and more severe prudential regulations (Dodd-Frank Act,  implementation of Basel-3 requirements etc.). Recognition of high achievements in situations where long-term risks persist, is an even more valuable event than awards obtained in times of economic boom.