Banks’ milder policies boost interest to retail loans: National Bank Governor Gregory Marchenko

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.