S&P changes Nurbank view to stable

S&P said it revised the outlook for Nurbank to stable from negative after the agency learned Nurbank will receive a tier 1 capital injection of 20.9 billion tenge from the major shareholder within the next three months, a five-year asset guarantee by the state-related problem loan fund, also amounting to 20.9 billion tenge and a 15-year subordinated loan for 48.6 billion tenge.

The proceeds will be used to further clean up Nurbank’s balance sheet.

S&P also affirmed Nurbank’s global and national scale ratings.

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