Global Finance names DBK the safest bank in Kazakhstan

Global Finance Magazine has announced its 30th annual ranking of the safest banks among 112 countries and territories for 2021. The Development Bank of Kazakhstan (a subsidiary of Baiterek Holding) showed the best results among Kazakhstani financial institutions.

Winners were selected through an evaluation of long-term foreign currency ratings – from Moody’s, Standard & Poor’s and Fitch – of the 1000 largest banks worldwide. According to Global Finance, the banking sector demonstrated good resilience last year during the pandemic crisis, having prevented a collapse of the economy by providing critical emergency funding.

 – The Safest Bank winners are anchors of stability that continue to provide support to governments and communities as they seek to recover from the economic turmoil of the pandemic, – said Joseph Giarraputo, publisher and editorial director of GF Magazine.

Abay Sarkulov, the head of the Development Bank of Kazakhstan, expressed gratitude to Global Finance for a high appreciation of the DBK.

– The recognition of the DBK as the safest bank in Kazakhstan confirms the efficiency of the bank’s entire team and a commitment to our key mission – timely support of Kazakhstani businesses in order to diversify the national economy, – said Abay Sarkulov.

He also stated that the DBK remains one of the most innovative and advanced development institutions in Central Asia.

The GF Magazine, founded in 1987, has readers in 191 countries. It regularly determines the best banks, financial institutions, and organizations.

This year, the DBK also won the Global Economics Awards-2021 in the “Best Bank for Investor Relations” and the “Corporate Social Responsibility” categories according to Asiamoney publication.