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Saudi to take $10 billion foreign loan
Saudi to take $10 billion foreign loan

Saudi Arabia will take a $10 billion loan from foreign banks to help close the gap in its state finances from collapsed oil revenues.

Saudi to take $10 billion foreign loan
Brazil's impeachment: a how to guide
Brazil's impeachment: a how to guide

Brazil's President Dilma Rousseff risks being driven from office if the lower house votes in favor of an impeachment trial.

Brazil's impeachment: a how to guide
©Reuters
'Bad bank' deal could be option for several countries: EU banking resolution chief

A state-backed "bad bank" that would take over non-performing loans from a country's banks could also be an option for other countries.

'Bad bank' deal could be option for several countries: EU banking resolution chief
©Turar Kazangapov
Kazakh Senate passes bill prohibiting foreign currency mortgage loans

Kazakh Senate, the upper house of Kazakhstan’s Parliament, has passed a bill on non-performing loans and assets of second-tier banks.

Kazakh Senate passes bill prohibiting foreign currency mortgage loans
©Turar Kazangapov
Kazakhstan National Bank raises base interest rate to 16%

The National Bank of Kazakhstan has revised the base interest rate raising from 12 to 16 percent in order to curb inflation in Kazakhstan.

Kazakhstan National Bank raises base interest rate to 16%
Photo courtesy of alphacoders.com
Loans in dollars are dangerous: head of Kazkom

Chairman of the Board of of Kazkommertsbank said that issuing and obtaining loans in dollars in Kazakhstan was dangerous.

Loans in dollars are dangerous: head of Kazkom
Tenge-denominated loans to be available soon: Kazakh Central Bank Governor

It was a natural response of the banks (…) they had been expecting a drastic currency devaluation and they insured against currency-related risks, he elaborated.

Tenge-denominated loans to be available soon: Kazakh Central Bank Governor
Tengrinews file photo
Kazakh banks experiencing tenge shortages

Experts talk about the deficit of tenge experienced by commercial banks in Kazakhstan.

Kazakh banks experiencing tenge shortages
File photo. ©Tengrinews
Development Bank of Kazakhstan funds modernization of Pavlodar Oil Refinery

Pavlodar Oil Refinery will receive funding from Development Bank of Kazakhstan (DBK) amounting to $1.2 billion.

Development Bank of Kazakhstan funds modernization of Pavlodar Oil Refinery
Illustration ©Tengrinews.kz
Several Kazakh banks cease issuing mortgage loans in tenge

Several Kazakhstan’s banks have ceased issuing mortgage loans in tenge.

Several Kazakh banks cease issuing mortgage loans in tenge
Yaroslav Radlovsky ©
Foreign borrowers responsible for 40% of NPLs in Kazakhstan

A significant bulk of the NPLs were provided back in 2006-2008, a time of heavy borrowing and high appetite for risky investments.

Foreign borrowers responsible for 40% of NPLs in Kazakhstan
ADB. ©Reuters
ADB provides a loan of $122 million to support S&MBs in Kazakhstan

The loan is part of the second tranche of the $500 million program to support S&MBs approved by the ADB in 2012.

ADB provides a loan of $122 million to support S&MBs in Kazakhstan
Tengrinews.kz ©
Central Bank Governor on Toxic Assets Fund

According to him, the money will only be provided to banks that have accumulated the most of NPLs. Kazkommertsbank and BTA to be shortly merged are among them as they jointly account for 62% of NPLs in the banking sector.

Central Bank Governor on Toxic Assets Fund
Central Bank Governor Kairat Kelimbetov. Photo courtesy of ortcom.kz
Central Bank Governor advises against borrowing

According to him, Kazakhstan’s people have been excessively eager to take mortgages and consumer loans (…).However, in more developed nations up to 70% permanently live in rented housing.

Central Bank Governor advises against borrowing
Photo courtesy of newskaz.ru
IBRD to loan $36 million to Kazakhstan to enhance legal system

President Nursultan Nazarbayev has endorsed a law on ratification of the agreement on a loan between Kazakhstan and the International Bank for Reconstruction and Development.

IBRD to loan $36 million to Kazakhstan to enhance legal system
Kairat Kelimbetov. Photo courtesy of www.primeminister.kz
Non-perfoming loans to go down to 10% by 2016 in Kazakhstan: Kelimbetov

The Governor of the Central Bank Kairat Kelimbetov aims to decrease non-performing loans to 10% by January 1 2016.

Non-perfoming loans to go down to 10% by 2016 in Kazakhstan: Kelimbetov
People's Bank of China. Photo courtesy of thechinatimes.com
China bank loans surge in March: central bank

China's bank lending surged in March from the previous month, the central bank said Tuesday, but analysts dismissed the possibility of monetary easing.

China bank loans surge in March: central bank
Photo © RIA Novosti
Kazakhstani banks reduce external debt by $2.4 billion

Kazakhstani banks have reduced their external debt by $2.4billion.

Kazakhstani banks reduce external debt by $2.4 billion
© tengrinews.kz
NPLs growing in Kazakhstan regardless of measures to reduce the figure: Fitch Ratings

As of the end of 2013, the share of NPLs throughout the country’s banking sector stood at 31.2%. According to Fitch Ratings, in February the indicator grew to 33%.

NPLs growing in Kazakhstan regardless of measures to reduce the figure: Fitch Ratings
Photo a courtesy of Capital Bank
TAIB Bank changes name to Capital Bank

TAIB Kazakh Bank has changed its name to Capital Bank Kazakhstan after changing hands.

TAIB Bank changes name to Capital Bank