Kaspi Bank has opted out of the S&P ratings as it is already rated by two other leading international rating agencies, Fitch and Moody’s, making a third rating unnecessary. The current credit ratings of Kaspi Bank are among the highest for any bank in the country.
In September 2024, Moody’s upgraded the long-term ratings of Kaspi Bank in both national and foreign currencies to investment grade Baa3 from Ba1. The outlook is "Stable." The long-term bank deposit rating according to the national scale is A2.kz. Additionally, the baseline credit assessment of Kaspi Bank has been raised to ba2 from ba3.
Fitch also assigned Kaspi Bank an investment-grade rating of BBB- with a stable outlook in September 2024.