Moody's Upgrades Golomt Bank's Ratings to 'B1'; Outlook Stable
Moody’s Ratings upgraded Golomt Bank JSC’s long-term deposit and issuer ratings to ‘B1’ from ‘B2’, while also upgrading its foreign currency senior unsecured debt ratings and Baseline Credit Assessment (BCA) to ‘b2’ from ‘b3’. The outlook remains Stable.
The upgrade reflects continued improvements in asset quality, capitalization and liquidity, alongside Moody’s expectation of a stronger funding profile over the next 12–18 months. Golomt Bank’s NPL ratio declined to 3.3% at end-2025 from 4.4% a year earlier and 10.5% in 2022, while its Tier 1 capital ratio increased to 15.3% and core banking liquidity rose to 30.6% of tangible banking assets.
Golomt issued USD500 million of three-year senior unsecured debt in May 2026, using part of the proceeds to repurchase USD200 million of its USD400 million bonds maturing in May 2027, reducing near-term refinancing pressure.
The ratings incorporate a one-notch uplift for government support, reflecting Golomt’s status as a domestic systemically important bank and its top-three position by assets. Moody’s expects asset quality and capitalization to remain stable while funding conditions improve over the next 12–18 months.
CMM Perspective
Moody’s upgrade highlights Golomt Bank’s improving asset quality, stronger capital and liquidity, and expanding access to long-term funding. The bank’s USD500 million bond issuance also reduces near-term refinancing pressure. Key factors to monitor remain consumer lending risk, borrower concentration, funding costs and capital levels.
