OREANDA-NEWS. May 08, 2013. Kazakhstan-based Subsidiary Bank Joint-Stock Company “Home Credit and Finance Bank” (“the Bank”), one of the consumer finance market leaders in Kazakhstan, announces that the international rating agency Fitch has assigned it a “BB-” rating with a Stable outlook.

This rating reflects the Bank’s solid capitalisation, strong profitability and adequate asset quality as well as the support available from its 100% shareholder Home Credit and Finance Bank Russia (rated by Fitch at BB, and by Moody’s at Ba3). The rating acknowledges the Bank’s financial strength and will provide additional opportunities for further development.

The Bank’s CEO, Pavel Maco, commented: “In 2013, we will continue to open regional branches and expand the product line, as well as maintaining our focus on improving efficiency. This year, as well as providing loans, we are focusing on building our asset base by increasing deposits. Fitch’s rating is an independent confirmation of our reliability, which increases the attractiveness of our deposit products”.

The “BB-” rating is above the threshold in Kazakhstan which enables the Bank to attract deposits from insurance companies, pension funds and other investors and eventually to further diversify funding sources.

In 2012 the KzRating Kazakhstani rating agency assigned the Bank the following credit ratings: “A-” on a national scale and “BB” with a Stable outlook on an international scale.