December 11, 2013
JSC “Eurasian Bank” announces successful closing of the 1st standard consumer loan assignment & servicing transaction in Kazakhstan
Hereby JSC “Eurasian Bank” (“Eurasian Bank” or the “Bank”) announces successful closing of a retail loan assignment & servicing transaction under which the Bank has assigned a portion of its consumer loan portfolio to one of Kazakhstan’s second-tier banks. As a result of this breakthrough transaction, Eurasian Bank had assigned a portfolio represented by unsecured standard consumer loans. The transaction was closed on December 3rd.
Eurasian Bank recognizes this as a milestone transaction for the Bank as well as an undisputable precedent for Kazakhstan market. This deal will be followed by a series of similar transactions in the future. Closing such a transaction affirms both the professional approach of the Bank in terms of its acquisition procedures and risk management tools.
Michael Eggleton, the CEO of Eurasian Bank, has stated “this pioneering transaction shows our ability to leverage the production of our regional retail network of over 1,500 manned points of presence in Kazakhstan to investors looking to increase their financial returns by diversifying their assets in a way they could not otherwise do. We are very excited to continue expanding this business model across these and other asset classes.”
JSC “Halyk Bank’s Subsidiary “Halyk Finance” (“Halyk Finance”) is the Sole Financial Advisor of the Bankunder assignment of a portion of its retail loan portfolio.
Eurasian Bank (www.eubank.kz)is a universal commercial bank offering products and services to clients in all segments. The Bank was founded in 1994. The Bank is represented in all regions of Kazakhstan by a network of 20 full-service branches and over 1500 points of sales. Eurasian Bank has a subsidiary in Russia (Moscow). It is rated “B+” by S&P with a “positive” outlook and “ВВ+” on international scale and “А+” on the national scale by KZRating with “stable” outlook. Eurasian Bank is a member of KASE and a party to KazPrime.
The Bank’s accomplishments were acknowledged by the following awards: Domestic Retail Bank of the Year, Kazakhstan in both 2012 and 2013 (Asian Banking & Finance), Best Bank in Kazakhstan 2012 (Euromoney), and Bank of the Year 2012, Kazakhstan (The Banker)
JSC Halyk Finance (http://www.halykfinance.kz/en) is the leading investment bank in Kazakhstan rendering a full range of investment banking services including consulting and underwriting, corporate finance, sales and trading with market making on the Kazakhstan Stock Exchange, investment portfolio management and research.