Eurasian Bank Jsc: A Comprehensive Review

Eurasian Bank Jsc is a Kazakhstan-based bank that has been around since 1994. It's a significant player in the country's banking sector.

The bank's history dates back to 1994 when it was established as a joint-stock company. Eurasian Bank Jsc has since grown to become one of the largest banks in Kazakhstan.

Eurasian Bank Jsc offers a range of banking services, including corporate and retail banking, as well as investment banking.

Eurasian Bank was registered as Joint Stock Bank by the National Bank of Kazakhstan in December 1994. This marked the beginning of the bank's journey.

In February 1995, the bank received its General License to fulfill bank operations, a crucial step in its development. This allowed the bank to start offering its services to the public.

The bank's expansion continued in 1996, with the receipt of a License for broker and dealer activity in March. By April, it had become the prime dealer on Government securities. In May, the bank became a member of the Kazakhstan Stock Exchange.

The bank's growth was further solidified in September 1997, with the receipt of the License for broker activity with Government securities. It also became a member of SWIFT that same month.

Lyazzat Satiyeva was elected as the chairman of Management Board of Eurasian Bank JSC in Kazakhstan on September 13, 2022.

This marked an important milestone in the bank's history and leadership.

Eurasian Bank has had a B+ Long-term Counterparty Credit Rating with Positive outlook from Standard & Poor's since the December 2011 upgrade.

The bank's rating from Moody's Investors Service has been a B2, with a basic credit rating of b3, since at least 2020.

In 2003, Eurasian Bank received a B1 Long-term foreign currency deposit rating from Moody's Investors Service, which has been in place ever since.

The management of Eurasian Bank JSC decided to continue cooperation only with Moody’s Investors Service in 2019.

Criticism played a significant role in the bank's history. In January 2015, the bank's Executive Director, Tatyana Burnakina, openly criticized her bank employees' professional activities in an interview with Newslab.ru.

Burnakina revealed facts of fraud and theft within the bank. This sparked a reaction from the bank's press service, who announced the termination of Burnakina's employment contract for gross violations of the code of ethics and business conduct on January 19, 2015.

The incident highlights the consequences of speaking out against wrongdoing within an organization.

In the 1990s, Eurasian Bank underwent significant development, marking its transformation into a modern financial institution.

The bank's journey began in December 1994 when it was registered as a Joint Stock Bank by the National Bank of Kazakhstan.

Eurasian Bank received its General License to fulfill bank operations in February 1995, paving the way for its growth.

By March 1996, the bank had received a License for broker and dealer activity, expanding its services.

Becoming the prime dealer on Government securities in April 1996 was a major milestone for the bank.

In May 1996, Eurasian Bank became a member of the Kazakhstan Stock Exchange, further solidifying its position in the financial market.

The bank received a License for broker activity with Government securities in September 1997, allowing it to handle a wider range of transactions.

Eurasian Bank became a member of SWIFT in September 1997, facilitating international transactions and enhancing its global reach.

By April 1998, the bank had received a License for custodian activity, providing an additional service to its clients.

Here are the key events of Eurasian Bank's development in the 1990s:

When comparing Eurasian Bank JSC to its competitors, it's clear that National Investment Bank of Mongolia is a notable player in the financial services sector.

Eurasian Bank JSC has a strong presence in the banking industry, offering a range of banking products that cater to individual consumers and businesses.

National Investment Bank of Mongolia also focuses on serving individual consumers and businesses with financial solutions.

Eurasian Bank JSC and National Investment Bank of Mongolia both offer financial services within the banking sector, with a focus on providing a range of banking products.

The National Investment Bank of Mongolia is based in Ulaanbaatar, Mongolia, which is a key location in the region.

Eurasian Bank JSC and National Investment Bank of Mongolia share similarities in their business models, serving as a testament to the importance of financial services in the region.

Additional reading: Commercial Banks vs Investment Banks