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ATF Bank JSC has successfully paid off its euro bonds worth $310,5 million, with keeping high liquidity
February 20, 2014, ATF Bank JSC successfully paid off the 6th euro bond issue at the total amount of $310,5 million, including $296,8 million of the principal and $13,7 million as coupon payment (57,4 billion tenge in total).
The principal and coupon were timely paid off in accordance with the terms and conditions of the 6th euro bond issue, without any delays. The paying agent registering the above mentioned euro bond issue was Bank of New York (ISIN: XS0286908867).
At the same time, after this euro bond pay-off the Bank managed to preserve sufficient liquidity volume totaling over $750 million (138,7 billion tenge in total). After paying off the 6th euro bond issue, the share of liquid assets comprises 19%, proving the institution’s high level of sustainability.
In May 2013 Kazakhstan holding KNG Finance became the majority shareholder of ATF Bank, after that in 2013 the Bank successfully discharged $770 million of its obligations before the scheduled time.
“ATF Bank JSC is fulfilling its obligations to the local and foreign clients and partners in full amount and timely manner. The current euro bond pay-off in the amount of $310,5 million is another fact to prove our commitments,” stated the Chairman of ATF Bank Management Board, Anthony Espina.
Recently ATF Bank presented its 2013 financial results. According to the unaudited consolidated financial reports meeting IFRS, in 2013 the net profit of the Bank totaled 1,8 billion tenge versa
8,6 billion of losses in 2012. Last time when the Bank ended the year with consolidated profit was in 2007. Besides, during 12 months of 2013 the volume of deposits placed in ATF Bank increased up to 604 billion tenge (by 17.24%) comparing to 515 billion during the previous year. Within the reported period near 35 000 deposits were opened in the Bank.
Source:
21 2014 | View: 427 | Press Releases | Printint version
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