Kazakhstan Encyclopedia - User contributions [en]

Mineral industry of Kazakhstan

2017-03-26T18:37:23Z

Largoplazo: Redundant, replaced: ranks second only → ranks second using AWB

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{{POV|date=May 2013}}
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'''The mineral industry of Kazakhstan''' is one of the most competitive and fastest growing sectors of the country. [[Kazakhstan]] ranks second to [[Russia]] among the countries of the [[Commonwealth of Independent States|CIS]] in its quantity of mineral production. It is endowed with large reserves of a wide range of metallic [[ore]]s, industrial minerals, and [[fuel]]s, and its metallurgical sector is a major producer of a large number of [[metal]]s from domestic and imported raw materials. In 2005, its metal mining sector produced [[bauxite]], [[chromite]], [[copper]], [[iron]], [[lead]], [[manganese]], and [[zinc]] ores, and its metallurgical sector produced such metals as [[beryllium]], [[bismuth]], [[cadmium]], copper, [[ferroalloy]]s, lead, [[magnesium]], [[rhenium]], [[steel]], [[titanium]], and zinc. The country produced significant amounts of other nonferrous and industrial mineral products, such as [[alumina]], [[arsenic]], [[barite]], [[gold]], [[molybdenum]], [[phosphate rock]], and [[tungsten]]. The country was a large producer of [[mineral fuel]]s, including [[coal]], [[natural gas]], [[oil]], and [[uranium]].<ref name=usgs>Richard M. Levine and Glenn J. Wallace. [http://minerals.usgs.gov/minerals/pubs/country/2005/myb3-2005-am-aj-bo-gg-kz-kg-md-rs-ti-tx-up-uz.pdf "The Mineral Industries of the Commonwealth of Independent States"]. ''2005 Minerals Yearbook''. [[U.S. Geological Survey]] (December 2007). ''This article incorporates text from this U.S. government source, which is in the [[public domain]].</ref> The [[Economy of Kazakhstan|country’s economy]] is heavily dependent on the production of minerals. Output from Kazakhstan’s mineral and natural resources sector for 2004 accounted for 74.1% of the value of industrial production, of which 43.1% came from the oil and gas condensate extraction. In 2004, the mineral extraction sector accounted for 32% of the GDP, employed 191,000 employees, and accounted for 33.1% of capital investment and 64.5% of direct foreign investment, of which 63.5% was in the oil sector.<ref name="usgs" /> Kazakhstan's mining industry is estimated at US$29.5 billion by 2017.<ref>{{Cite web|url=http://www.mining.com/kazakhstans-mining-industry-worth-almost-30-billion-by-2017-75033/|title=Kazakhstan's mining industry worth almost $30 billion by 2017|last=|first=|date=|website=mining.com|publisher=|access-date=}}</ref>

==Environment==
Kazakhstan faces a number of environmental challenges, including [[industrial pollution]], land degradation and desertification, and contamination from its former role in nuclear weapons development and testing in the Semipalatinsk region. Significant improvements in the environmental situation of the northern [[Aral Sea]] area has been made owing to [[dam]] construction and river flow regulation.<ref name=usgs/>

==Structure==
Kazakhstani law holds that no sector of the economy is fully closed to investors, and, in 2005, a large number of Kazakhstan’s mineral production enterprises had significant foreign ownership. In 2005, the government also maintained ownership in a number of mineral production enterprises; the percentage of ownership varied depending on the enterprise. Despite being open to foreign investment and even listed on Western stock exchanges, the ownership structure of some major mineral producing enterprises was not entirely transparent.<ref name=usgs/>

==Trade==
In 2005, fuel and oil products comprised 69% of the value of exports. Ferrous and nonferrous metals were other significant export products. The value of commodity exports from the mineral extraction sectors increased considerably in 2005, owing to an increase in the price of oil and other mineral commodities.<ref name=usgs/>

Kazakhstan exports minerals to Russia, China, USA, Japan, Germany, Switzerland, Great Britain, Italy, Spain, Netherlands, South Korea, UAE.<ref>{{Cite web|url=http://www.agmp.kz/page/view/o_gmk_kazahstana?lang=en|title=Association of Mining and Metallurgical Enterprises|last=|first=|date=|website=agmp.kz|publisher=|access-date=}}</ref>

==Mineral Resources==
Kazakhstan’s mineral resource base is characterized by a large number of oilfields and gasfields and by a large variety of mineral resources. The country ranks among the world’s leading countries in its reserves of chromite, wolfram, lead, zinc, manganese, silver and uranium.<ref>{{Cite web|url=http://kazbao.com/en/399-mining-industry-in-kazakhstan/|title=Mining Industry in Kazakhstan|last=|first=|date=|website=kazbao.com|publisher=|access-date=}}</ref> It also has significant reserves of bauxite, copper, gold, iron ore, coal, natural gas and petroleum. According to data reported from Kazakhstan, the country is one of the 10 leading countries in the world for a significant number of mineral resources.
Within the CIS (based on the reserve classification system that was used in the Soviet Union and then by many of its successor states), Kazakhstan ranked first in its reserves of chromite and lead, possessing 97% and 38%, respectively, of all CIS reserves. The country ranked second in manganese, nickel, oil, phosphate rock, silver, and zinc, and third in coal, gas, gold, and tin.<ref name=usgs/>

Since the breakup of the Soviet Union, Kazakhstan has been perceived globally as a supplier of mineral commodities, which include oil, nonferrous metals, and uranium. Kazakhstan has been developing a rich mineral resource endowment. Intensive raw materials production and exports have helped the economy to overcome economic crises and ensured high rates of economic growth during the past 3 years.<ref name="usgs" />

The economy of Kazakhstan has been growing owing to the state policy of attracting foreign investment into its extraction industries. Kazakhstan was the first CIS country assigned with investment sovereign rating, and the [[World Bank]] has listed Kazakhstan among the 20 most attractive countries for investment. As a small economy with large fuel and mineral resources, however, Kazakhstan has not been particularly attractive for investment in the manufacturing sector, which makes the country highly vulnerable to fluctuations in commodity prices.<ref name="usgs" />

In view of the danger of the economy not using effectively the excess profits from the extracting sectors and foreseeing a possible negative effect from a sharp downfall of oil prices, the government established the National Fund to accumulate surplus oil revenues. The revenues in the Fund are to be used for the overall development of the national economy.<ref name="usgs" />

===Chromium===
Kazakhstan is world’s second ranked chromite producer, after [[South Africa]]. Production was centered in the Aqtobe region of northwestern Kazakhstan at the Khromtau complex. Chromite production was significantly expanding with the aid of Western investment. London-based Oriel Resources Plc acquired 100% of the Voskhod chromite project in February 2005 and, based on the positive results of a feasibility study, planned to fast-track development of the Voskhod project. Discovered in 1963, the Voskhod chromite deposit lies within the Khromtau District of the Aqtobe Region. Although surrounded by a group of existing mines, it had never been worked. The ore grade reportedly averages 48% Cr2O3 with concentrate upgraded to 57% Cr2O3. Production from Voskhod was expected to be 900,000 t/yr; production would begin in 2008 and continue for 14 years. The Voskhod Mine was projected to be one of the world’s leading suppliers of high-grade chromite. Oriel subsequently was awarded an extension to the Voskhod contract license area to include the Karaagash deposit which has, according to the former Soviet reserve classification system, C2 and P1 classified resources of some 7.8 Mt. Assuming positive results of a confirmatory drilling program, theses resources could extend mining beyond Voskhod’s projected 20-year life.<ref name=usgs/>

===Copper===
Kazakhmys plc, which was the firm that controlled most copper mining and metal production in the country, was engaged in a number of projects to ensure growth in the short term and provide for reserve replacement in the longer term. The majority of these projects was expected to begin production in the near or medium term and would include both new mine development and expansion of existing mines. The new mines included the Artemovskoye (which was part of the East Region complex), which was completed ahead of schedule and had the capacity to produce 28,000 t/yr of copper and 98,000 t/yr of zinc; the Zhaman-Aybat (which was part of the Zhezkazgan mining-metallurgical complex), which was under construction and has reserves of 75.3 Mt of ore that contains 1.069 Mt of copper; and the Aktogay (which was part of the Balkhash mining-metallurgical complex), which was being evaluated for development of an open pit to mine that was expected to produce 1.614 Gt of ore at an average grade of 0.36% copper, or 5.810 Mt of copper. Expansion of existing mines would include that of the East Saryoba underground mine (which was part of the Zhezkazgan complex), the Akbastau and the Kosmurun Mines (which were part of the East Region complex), and the Taksura open pit (which was part of the North Mine).<ref name=usgs/>

===Lead and Zinc===
Kazzinc JSC operated most of the country’s lead and zinc mining and metallurgical enterprises. It also produced copper and precious metals. It employed about 22,000 people in mining, beneficiation, metallurgy, power generation, and auxiliary production. The company was established in 1997 through the merger of eastern Kazakhstan’s three main nonferrous metals companies—[[Ridder, Kazakhstan|Leninogorsk]] (now [[Ridder, Kazakhstan|Ridder]]) Polymetallic complex, Ust-[[Kamenogorsk]] Lead and Zinc complex, and [[Zyryanovsk]] Lead Complex. The controlling block of shares in Kazzinc was sold by the state to the private sector, with [[Glencore International]] AG of Switzerland becoming the company’s main investor. In addition to Kazzinc, ZAO Yuzhpolimetal Corp. produced about 60,000 t/yr of lead metal from its Shymkent lead plant; and Kazakhmys produced more than 20,000 t/yr of zinc metal at the Balkhash zinc plant (Notarov, 2005).
Kazzinc’s development strategy called for it to join the ranks of the world’s leading producers of lead and zinc. Almost all Kazakhstan’s lead and zinc production was exported, which placed Kazakhstan already among the world’s leading lead and zinc exporting countries. In 2005, Kazakhstan’s lead and zinc producing enterprises were operating below capacity. The Ust-Kamenogorsk complex had the capacity to produce more than 150,000 t/yr of lead and 240,000 t/yr of zinc; the Ridder complex, 25,000 t/yr of lead and 110,000 t/yr of zinc; and the Balkhash zinc plant, 100,000 t/yr of zinc. The Shymkent lead plant was working far below capacity owing to a lack of raw material.<ref name=usgs/>

Kazzinc mined lead-zinc ores from the Maeeyevskoye, the Ridder-Sokol’noye, and the Tishinskoye deposits, and processed lead and zinc at the Ridder and the Ust-Kamenogorsk complexes. Plans called for beginning mining in 2006 at the Shaimreden deposit in Kustanay oblast, which would enable Kazzinc to produce an additional 60,000 t/yr of zinc (Notarov, 2005). In the fourth quarter of 2004, Kazzinc began production at the new Shubinsky mining subsidiary, which would operate the Shubinsky underground mine in the vicinity of Ridder. Reserves at the Shubinskoe deposit were estimated to be 1.5 Mt of lead-zinc and copper ores.<ref name=usgs/>

===Petroleum===
Kazakhstan has the [[Caspian Sea]] region’s largest recoverable crude oil reserves. In 2005, its production accounted for almost two-thirds of the approximately 2 Mbbl/d that was produced by CIS countries in the Caspian region. The country was poised to become an even more significant supplier to world oil markets in the next decade. Kazakhstan produced approximately 1.29 Mbbl/d of oil in 2005 and consumed 222,000 Mbbl/d, resulting in net exports of more than 1 Mbbl/d. The Kazakhstan Government projected increasing production levels to about 3.5 Mbbl/d by 2015, which would come mainly from production of about 1 Mbbl/d from the to-be-developed offshore [[Kashagan field]], 700,000 Mbbl/d from the onshore Tengiz field, 600,000 Mbbl/d from the to-be-developed onshore Kurmangazy field, and 500,000 Mbbl/d from the onshore Karachaganak field. The remainder would come from the development of smaller fields. Major growth would come from an approximately 75% increase in production from the Tengiz field and by development of the Kashagan field, which would add an additional 1 Mbbl/d after 2010.<ref name=usgs/>

===Uranium===
Kazakhstan was the [[List of countries by uranium production|top country]] in the world in volume of uranium production. The company [[Kazatomprom]] was the fourth ranked uranium producer in the world as of 2009.<ref name=usgs/>

Approximately one-fifth of the world’s uranium reserves are located in Kazakhstan. Total resources of uranium are more than 1.5 Mt, and more than 1.1 Mt can be mined by [[in situ leach]]ing. Kazakhstan has an expanding uranium mining sector, producing about 24,000 tonnes of uranium in 2016, but then reducing slightly.<ref>http://lenta.inform.kz/en/uranium-production-in-kazakhstan-to-decline-in-2017_a3003311</ref>

At the [[Stepnogorsk]] mining and chemical complex, which was Kazatomprom’s main production enterprise, plans called for increasing production by expanding the volumes of uranium production in Mining Group No. 1, further developing the Vostok field, and completing development of the Zvezdnoye field.<ref name=usgs/>

{{See also|Uranium mining#Kazakhstan}}

==Outlook==
The large predicted oil resources of the Kazakhstan sector of the Caspian shelf will require a significant amount of investment to develop. The required cumulative investment could be as much as $160 billion, of which about $10 billion would be for the initial stage of exploration, including field appraisal. Western companies already have invested more than $7 billion. A constraint to obtaining investment funds to develop the Caspian shelf is the lack of resolution of the territorial status of the Caspian Sea in regards to the demarcation lines and the ownership rights of the bordering states. This issue may have been partially resolved, however, with the agreement between Kazakhstan and Russia to partition the seafloor of the Caspian along the midline between the two countries. Similar agreements have been concluded between Kazakhstan and Azerbaijan, and between Azerbaijan and Russia. Also, in the energy sector, Kieltyka will play an increasingly important role as one of the world’s main suppliers of uranium.<ref name=usgs/>

Although Kazakhstan has adequate lead and zinc reserves to allow it to expand production through the next decade, expansion will depend on Kazakhstan’s companies being able to acquire financing and the participation of foreign firms in developing large lead and zinc deposits.<ref name=usgs/>

Moreover, Kazakhstan is facing a critical depletion of its minerals. The fields discovered by Soviet geologists have been developed too intensely in the last decades, while geological exploration has not yet covered all the promising areas. Kazakhstan is facing inability to restock the depleted reserves and the tendency is worsening. The depletion of reserves of many of main minerals greatly exceeds the speed of their growth after exploration. Reserves increase in case of some metals (iron, manganese, gold, zinc) due mainly through re-evaluation and additional exploration of the already discovered fields. However, the existing registered reserves of recently discovered copper and gold fields have low quality and cannot be considered equivalent to the depleted reserves.<ref>{{cite news|title=Kazakhstan Faces Critical Depletion of its Minerals|url=http://www.satrapia.com/news/article/kazakhstan-faces-critical-depletion-of-its-minerals/|accessdate=24 July 2012|newspaper=The Gazette of Central Asia|date=24 July 2012|publisher=Satrapia}}</ref>

==References==
{{reflist}}

{{Asia topic|Mining in}}

[[Category:Economy of Kazakhstan]]
[[Category:Mining in Kazakhstan]]

Eurasian Bank

2017-03-05T18:53:24Z

Largoplazo: /* Profile */Redundant, replaced: originally founded → founded using AWB

{{Use dmy dates|date=June 2012}}
{{Infobox company
|name = Eurasian Bank JSC
|logo = Eurasian Bank.svg
|native_name = {{unbulleted list|{{Lang-kz|«Еуразиялық банк» АҚ}} |{{Lang-ru|АО «Евразийский банк»}}}}
|type = [[Joint-stock company|JSC – Joint Stock Company]]
|foundation = 1994<ref>[http://investor.eubank.kz/_download/EB_12_CON_ENG_signed%20(1).pdf 2012 Consolidated Financial statements. Note 1 a) Background – Organisation and Operations.]</ref>
|location = [[Almaty]], [[Kazakhstan]]
|area_served = Kazakhstan, Russia
|key_people = Michael Eggleton <small>(CEO)</small>
|industry = [[Financial services]]
|products = [[Asset management]], [[Retail banking|consumer banking]], [[Commercial bank|corporate banking]], [[credit card]]s, [[mortgage loan]]s, [[private banking]], [[wealth management]]
|revenue = {{unbulleted list|{{increase}} [[Kazakhstani tenge|KZT]] 52.5 billion (2013) |{{pad|1em}}KZT 38.4 billion (2012)<ref name="FS2013">{{cite web |url=http://investor.eubank.kz/_download/FS_CONS_ENG_full_report.pdf |title=Consolidated Financial Statements 2013 }}</ref>}}
|operating_income= {{unbulleted list|{{increase}} KZT 17.3 billion (2013) |{{pad|1em}}KZT 13.1 billion (2012)<ref name="FS2013" />}}
|net_income = {{unbulleted list|{{increase}} KZT 13.1 billion (2013) |{{pad|1em}}KZT 9.8 billion (2012)<ref name=" FS2013" />}}
|assets = {{unbulleted list|{{increase}} KZT 588.6 billion (2013) |{{pad|1em}}KZT 470.5 billion (2012)<ref name=" FS2013" />}}
|equity = {{unbulleted list|{{increase}} KZT 58.8 billion (2013) |{{pad|1em}}KZT 47.8 billion (2012)<ref name=" FS2013" />}}
|num_employees = > 5,500 (2013)<ref>[http://investor.eubank.kz/_download/Investor%20presentation_12M2013_ENG.pdf 2013 year end investor presentation, page 7.]</ref>
|homepage = http://investor.eubank.kz/en/]
|intl = yes
}}

'''Eurasian Bank''' is the ninth largest lender<ref>[http://www.nationalbank.kz/?docid=672 National Bank bank sector statistics Retrieved on 4 June 2014. Second tier banks monthly summary balance sheet statistics]</ref> in Kazakhstan, headquartered in [[Almaty]],<ref>[http://investor.eubank.kz/en/52/ Eurasian Bank Head Office location. Retrieved on 3 June 2012. Registered Office : 56 Kunayev Street, 050002 Almaty (Kazakhstan)]</ref> 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.<ref>[http://investor.eubank.kz/_download/EB_12_CON_ENG_signed%20(1).pdf 2012 Consolidated Financial statements. Retrieved on 3 June 2012. Note 1 a) Background – Organisation and Operations.]</ref>
The Bank is owned 100% by Eurasian Financial Company JSCwhich is 100% owned by three equal shareholders: [[Alexander Mashkevich]], [[Alijan Ibragimov]], Patokh Shodiyev (aka [[Patokh Chodiev]])<ref>[http://investor.eubank.kz/_download/EB_12_CON_ENG_signed%20(1).pdf 2012 Consolidated Financial statements. Retrieved on 3 June 2012. Note 36 a) Related Party transactions – Control Relationships.]</ref>

== Profile ==
'''Eurasian Bank''' was founded by the shareholders to serve the needs of their industrial companies. As the bank grew, its scope grew and it began to serve a wider client base. The arrival of the new management team led by '''Michael Eggleton''', starting at the end of 2009, brought a transformation of the bank. New processes and procedures were put in place to clean up the loan book and initiate new lending based on strict credit criteria. This has had a dramatic impact on loan book quality, with [[Non-performing loan|NPLs]] approximately one fifth of the level of the Kazakhstan banking sector as a whole. By acquiring a strong consumer finance franchise it gained a strong engine of growth, but one that was based on strong systems and experience in the local market. Today, the Bank is a market oriented mid-tier bank in Kazakhstan, serving about 6% of the adult population in Kazakhstan, bringing to the market innovative products and offers, all the while having sector leading loan book quality.<ref>http://investor.eubank.kz/en/ Eurasian Bank annual reports 2011-2013</ref>

It is the only bank in Kazakhstan that did not suffer a rating downgrade during the recent financial crisis that created severe difficulties for the Kazakhstan banking sector.{{citation needed|date=May 2015}}

'''New product offers''' in the market are mostly targeted in the retail banking segment, in all income categories. In a market with significant administrative challenges, the bank launched a unique{{citation needed|date=May 2015}} product of '''''car in a day''''' financing. This drastic reduction of time to purchase a car with financing led to strong triple digit growth in auto financing in 2012. With their '''''Branch of the Future''''' program, the bank is increasing the types of self-service transactions for customers. The bank also launched a '''wealth management''' and '''private banking''' offer, relying on best-in-class international partners{{who|date=May 2015}} to ensure that the offer was up to global standards. All these changes rely on significant behind-the-scenes changes in systems procedures and operations.

==Management==
On December 5, 2016, '''Pavel Loginov''' was elected as the Chief Executive Officer of Eurasian Bank JSC (Kazakhstan).<ref>[http://kazworld.info/?p=59420 Kazakh Eurasian Bank Appointed New CEO]</ref> '''Michael Eggleton''' stepped down as a Chief Executive Officer of Eurasian Bank JSC (Kazakhstan). 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.<ref>[http://forbes.kz/leader/spokoen_kak_bank Forbes Kazakhstan June 2013 profile of Michael Eggleton]</ref> In 2013 he received the '''''2013 Executive of the Year Award''''' from the [[American Chamber of Commerce]] in Kazakhstan.<ref name="investor.eubank.kz">[http://investor.eubank.kz/en/news/59.html Eurasian Bank website, press release on award.]</ref>

== Ratings ==
Eurasian Bank has a '''B+''' Long-term Counterparty Credit Rating with '''Positive outlook''' and a '''kzBBB+''' local scale rating from '''[[Standard & Poor's]]''',<ref>[http://www.standardandpoors.com/en_US/web/guest/ratings/entity/-/org-details/sectorCode/FI/entityId/389252 S&P rating page for Eurasian Bank, retrieved 4 June 2014 (requires site registration). Eurasian Bank has had a B+ rating with Stable outlook since December 2011]</ref> 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]]''',<ref>[/credit-ratings/Eurasian-Bank-credit-rating-600066033 Moody's Rating page for Eurasian Bank, retrieved (requires site registration) 4 June 2014. Eurasian Bank has had B1 rating since 2003, with a negative outlook since 2009.]</ref> it has had this rating since 2003, and the negative outlook has been in place since 2009.

== Awards ==
In 2013, the Bank was awarded '''''Best Bank in Kazakhstan 2013''''' by '''''EMEA Finance''''',<ref>[http://www.monitise.com/news/press_releases?id=909 Press release mentioning EMEA Finance award]</ref> and Michael Eggleton, the CEO, received the '''''2013 Executive of the Year Award''''' from the '''[[American Chamber of Commerce|American Chamber of Commerce in Kazakhstan]]'''.<ref name="investor.eubank.kz"/> In 2012 and 2013 the Bank was awarded the '''''Domestic Retail Bank of the Year''''' by '''Asian Banking & Finance'''.<ref>[http://asianbankingandfinance.net/retail-banking/exclusive/asian-banking-finance-awards-2012-winners-revealed 2012 Asian Banker & Finance Retail Bank of the Year Award]</ref><ref>[http://asianbankingandfinance.net/photo-gallery/asian-banking-finance-awards-2013 2013 Asian Banker & Finance Retail Bank of the Year Award]</ref> In 2012 the Bank was awarded the '''''Best Bank in Kazakhstan''''' by '''[[Euromoney]]''',<ref name="Press release on Euromoney award">[http://www.kase.kz/news/show/1170160 Press release on Euromoney award]</ref> and the '''''Bank of the Year in Kazakhstan''''' by '''[[The Banker]]'''.<ref>[http://www.thebanker.com/Awards/Bank-of-The-Year-Awards/The-Banker-Awards-2012-Asia-Pacific 2012 The Banker Bank of the Year in Kazakhstan Award]</ref>

==History==
History section based on press releases and chronology found on company website.<ref>[http://investor.eubank.kz/en/news/ Eurasian Bank English language website, news releases]</ref>

=== 1990s ===
* December 1994 - Eurasian Bank was registered as Joint Stock Bank by [[National Bank of Kazakhstan]]
* February 1995 - Bank received General License to fulfill bank operations
* March 1996 - Receipt of License for broker and dealer activity
* April 1996 - Becomes prime dealer on Government securities
* May 1996 - Bank became the member of [[Kazakhstan Stock Exchange]]
* September 1997 - Receipt of the License for broker activity with Government securities
* September 1997 - Bank became member of [[SWIFT]]
* April 1998 – Receipt of License for custodian activity

=== 2000s ===
* February 2000 – Bank became member of the Deposit Guarantee System
* November 2000 – Became a member of [[VISA International]]
* 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 Group|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 International|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 (CEO) – 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
* August 2012 - Eurasian Bank was named The Best Retail bank in Kazakhstan in 2012 by Asian Banking & Finance
* November 2012 – [[The Banker]] named Eurasian Bank as Bank of the Year in Kazakhstan
* December 2012 - [[Deutsche Bank]] presents Eurasian Bank the 2012 Straight - Through Processing Excellence Award
* 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
* July 2013 - Eurasian Bank was named The Best Retail bank in Kazakhstan in 2013 by Asian Banking & Finance
* December 2013 - Eurasian Bank completes first retail loan assignment & servicing transaction in Kazakhstan market. Essentially a synthetic securitization.
* February 2014 - Moody's rating agency reaffirms Eurasian Bank's B1 rating
* June 2014 - Eurasian Bank launches mobile banking for retail customers

==References==
{{reflist}}

==External links==
{{Commons category|Eurasian Bank}}
*{{official website|http://investor.eubank.kz/en/}}
*[http://www.kase.kz/en/membership/member/EURAS] Kazakhstan Stock Exchange Member page
*[http://www.afn.kz/?docid=461] FNMC - Financial regulator website list of second tier banks
*[http://www.nationalbank.kz/?docid=158] - National Bank website Statistics on Financial sector

{{DEFAULTSORT:Eurasian Bank}}
[[Category:Banks of Kazakhstan]]
[[Category:Companies of Kazakhstan]]
[[Category:Economy of Kazakhstan]]
[[Category:Eurasian Natural Resources Corporation]]
[[Category:1994 establishments in Kazakhstan]]
[[Category:Banks established in 1994]]
[[Category:Kazakhstani brands]]