Banks’ milder policies boost interest to retail loans: National Bank Governor Gregory Marchenko 11 июля 2011, 15:44
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Gregory Marchenko. By Vladimir Dmitriev ©
Kazakhstan’s National Bank Governor Gregory Marchenko assigns growing interest to retail loans to milder policies practiced by banks in Kazakhstan. He said about that during the on-line conference at Profinance.kz July 8.
“Retail lending has been on the rise because banks have been practicing a bit milder policies. This was coupled with pent up demand (…) If banks practice cautious approach when selecting eligible borrowers, a wave of defaults is unlikely to happen”, Marchenko believes.
Banks’ loan portfolios as of the June 1 made up $63.2 billion, growing by $1.14 billion from the start of the year.