Eurasian Bank JSC is the ninth largest lender in Kazakhstan, headquartered in Almaty, It was founded in 1994 as a closed joint-stock company, and reregistered in 2003 as a joint stock company due to joint stock company law changes. The Bank is owned 100% by Eurasian Financial Company JSCwhich is 100% owned by three equal shareholders: Alexander Mashkevich, Alijan Ibragimov, Patokh Shodiyev
Management
On December 5, 2016, Pavel Loginov was elected as the Chief Executive Officer of Eurasian Bank JSC. Michael Eggleton stepped down as a Chief Executive Officer of Eurasian Bank JSC. He took up this position at the end of 2009 and, together with his experienced management team, has transformed the bank from a small troubled bank into a strong mid-tier bank with a leading consumer lending position. Prior to joining Eurasian Bank, Michael Eggleton was a board member of Eurasian Natural Resources Corporation from the date of its flotation on the London Stock Exchange, and he was also CEO of National Bank Trust in Russia. Prior to this he was a Managing Director at Merrill Lynch and Credit Suisse, working with companies in the CIS, Eastern Europe, Turkey and North Africa. He started his career as a CPA, and has an MBA from San Diego State University in California. In 2013 he received the 2013 Executive of the Year Award from the American Chamber of Commerce in Kazakhstan.
Ratings
Eurasian Bank has a B+ Long-term Counterparty Credit Rating with Positive outlook and a kzBBB+ local scale rating from Standard & Poor's, it has had these ratings since the December 2011 upgrade. The bank also has a B1 Long-term foreign currency deposit rating with Negative outlook from Moody's Investors Service, it has had this rating since 2003, and the negative outlook has been in place since 2009.
History
History section based on press releases and chronology found on company website.
January 2002 – Receipt of the license to fulfill bank operations in tenge and foreign currencies
July 2003 – Moody’s rating agency assigned Bank a B1 rating for long term and NP rating for short term deposits in foreign currency, E for Financial Strength Rating. Outlook Stable
October 2004 – Became a member of Kazakhstan Fund for mortgage loans guarantee
July 2006 - Fitch rating agency assigned the Bank with B- Issuer’s Default Rating, and B short-term rating. Outlook Stable
November 2006 - Standard & Poor’s assigned Bank В/В long and short term ratings, kzBB national scale rating, Outlook Stable
July 2007 - Standard & Poor's changed its Outlook to Positive from Stable. Credit ratings B/B were confirmed. Bank’s local national scale rating was upgraded to kzBВB- from kzBВ
September 2008 - Visa International raises the status of the Bank to Principal Member
December 2008 - Eurasian Bank and Visa presented world's first exclusive card with diamond and gold ornaments - VISA Infinite Eurasian Diamond Card.
October 2009 - appointment of the new Chairman of the Management Board – Mr. Michael Eggleton
2010s
April 2010 – Completion of the acquisition of 99.99% of the shares of Bank Troika Dialog in Moscow
June 2010 - Moody's Investors Service assigned a rating of B1 for debt in local currency
February 2011 - Acquisition of Micro Credit Organization ProstoCredit from Société Générale
December 2011 - Standard & Poor's raises the credit rating of the Bank to B/B, the local rating from kzBB to kzBB+, and changes the outlook from negative to stable
December 2011 - The Bank ends the year with more than 450 points of sale throughout Kazakhstan. Client numbers increased by 250,000 to 419,000
July 2012 - Euromoney magazine named Eurasian Bank as Best Bank in Kazakhstan
July 2012 – Kazakhstani Rating Agency KzRating upgraded the credit rating of the Bank on a national scale from BBB to A- and the international scale from BB- to BB with a Stable outlook
December 2012 - The Bank ends the year with 1,900 points of sale and 648,000 clients
January 2013 – Eurasian Bank opens its Private Banking branch for VIP clients, offering wealth management services from international partners
January 2013 - Eurasian Bank becomes principal member of MasterCard
February 2013 – Eurasian Bank launches its Branch of the Future plan with automated electronic cashiers in to branches in Almaty and Atyrau
May 2013 - Michael Eggleton, the CEO, received the CEO of the Year - 2013 award from the American Chamber of Commerce in Kazakhstan
July 2013 - Standard & Poor's Maintains the credit rating of the Bank at B+/B+, raises the local rating from kzBBB to kzBBB+, and changes the outlook from stable to positive
December 2013 - Eurasian Bank completes first retail loan assignment & servicing transaction in Kazakhstan market. Essentially a synthetic securitization.
