AM Best Affirms Credit Ratings of Halyk-Life, JSC
AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of bbb- of Halyk-Life, Life Insurance Subsidiary Company of the Halyk Bank of Kazakhstan, JSC (Halyk-Life) (Kazakhstan). Halyk-Life is a wholly owned subsidiary of JSC Halyk Bank, a leading retail bank in Kazakhstan. The outlook of these Credit Ratings (ratings) is positive.
The ratings reflect Halyk-Life s balance sheet strength, which AM Best categorises as very strong, as well as its adequate operating performance, limited business profile and marginal enterprise risk management.
The positive outlooks reflect improvements in Halyk-Life s operating performance metrics observed in recent years.
Pennsylvania agricultural groups have some changes theyâd like to see in Gov. Tom Wolfâs budget.
The Pennsylvania Equine Coalition blasted Wolfâs renewed proposal to yank $200 million of slot machine revenue from a fund that covers horse racing purses, drug testing and other costs.
Wolf wants the money to create scholarships for students at the state-owned universities, but the fund is the largest revenue stream for the stateâs horse racing industry, dwarfing the $20 million in wagers that the tracks generated annually before the pandemic.
âEveryone recognizes that college debt and rising tuition rates are major problems, but you donât fix one debt problem by putting an entire sector of the agriculture industry out of business and thousands of people out of work,â said Pete Peterson, an Equine Coalition spokesman.
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Synopsis
Though the business between a customer and a bank is transactional, many customer-first banks like to treat it as a relationship. What happens when one partner in the relationship withholds critical information? It either leads to discord or a surprise. Which is why some private banks holding back data on non-NPA overdue loans is a cause for concern.
Two of India’s top private banks have stopped disclosing data on non-NPA (non-performing assets) overdue loans all of a sudden. Despite constant requests from analysts during the Q3 FY21 results conference calls of Axis Bank and HDFC Bank, the lenders blatantly declined to disclose data on loans that had remained unpaid 30 days past their due date. The banks had disclosed the relevant data for Q2 FY21. This data and the financial disclosures are