DOMESTIC RETAIL BANK OF THE YEAR - KAZAKHSTAN
Now on its sixth year, the Asian Banking Retail Banking Awards 2012 recognized the banks that bested all others with their exceptional performance, services, and product offerings. Eurasian Bank was judged the Domestic Retail Bank of the Year - Kazakhstan for its unmatched initiatives towards stable assets and double-digit loan growths in the last two years. As the 10th largest bank in Kazakhstan by assets, Eurasian Bank has undergone a year of restructuring since the shareholders placed a new western management team in early 2010. The bank has proven its dynamism after the total restructuring of the bank’s balance sheet, loan book, cost structure, credit process, and asset liability management. In turn, loans have grown far faster than assets in the past two years, with 2011 showing 3.5% asset growth and 19.8% loan book growth. Net interest margin then increased from 2.3% in 2010 to 6.1% in 2011. Loan quality has also improved significantly, with NPLs falling from 9.4% in 2010 to 7.6 % in 2011. With its ability to exhibit effective problem-solving skills and efficient operations amidst the post-crisis environment brought about by the asset bubble and economic crisis in 2009, Eurasian Bank is well deserving of its win as the Domestic Retail Bank of the Year - Kazakhstan.
Source: Asian Banking & Finance Magazine