Moody’s Ratings Affirms Alatau City Bank’s Ba3 Deposit Ratings; Outlook Remains Positive

Almaty. June 12, 2026.  Moody’s Ratings (“Moody’s”) has affirmed the long-term deposit ratings of “Alatau City Bank” JSC at Ba3. The outlook on the long-term ratings remains positive.

At the same time, Moody’s affirmed the Bank’s Baseline Credit Assessment (BCA) and Adjusted BCA at b1.

According to Moody’s press release, in affirming the ratings, the agency took into account Alatau City Bank’s solid capitalization, strong profitability and very high liquidity.

“Liquidity remains a key credit strength. Core banking liquidity accounted for almost 30% of consolidated assets at end-2025, primarily held in cash with the National Bank of Kazakhstan and in highly liquid government securities. Capital adequacy is very strong. At end-2025, the bank's tangible common equity to risk-weighted assets exceeded 50%, while its regulatory Tier 1 ratio stood at 48% as of 1 April 2026, comfortably above minimum requirements,” - the rating agency stated.

Moody’s analysts also highlighted the Bank’s strong return on assets, which amounted to approximately 4% in 2025. According to the agency, earnings continue to benefit from strong margins, supported by high-yielding products and significant funding from the bank's own capital base.

The agency expects profitability to remain broadly stable over the next 12–18 months, supported by high interest rates and continued growth in higher-margin SME and retail lending.

According to Moody’s, positive rating momentum could develop if Alatau demonstrates an ability to maintain its market position, expand its core banking franchise, and sustain profitability from stable banking operations at or above current levels.