Saudi Arabia will take a $10 billion loan from foreign banks to help close the gap in its state finances from collapsed oil revenues.
Brazil's President Dilma Rousseff risks being driven from office if the lower house votes in favor of an impeachment trial.
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.
Kazakh Senate, the upper house of Kazakhstan’s Parliament, has passed a bill on non-performing loans and assets of second-tier banks.
The National Bank of Kazakhstan has revised the base interest rate raising from 12 to 16 percent in order to curb inflation in Kazakhstan.
Chairman of the Board of of Kazkommertsbank said that issuing and obtaining loans in dollars in Kazakhstan was dangerous.
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.
Experts talk about the deficit of tenge experienced by commercial banks in Kazakhstan.
Pavlodar Oil Refinery will receive funding from Development Bank of Kazakhstan (DBK) amounting to $1.2 billion.
Several Kazakhstan’s banks have ceased issuing mortgage loans in tenge.
A significant bulk of the NPLs were provided back in 2006-2008, a time of heavy borrowing and high appetite for risky investments.
The loan is part of the second tranche of the $500 million program to support S&MBs approved by the ADB in 2012.
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.
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.
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.
The Governor of the Central Bank Kairat Kelimbetov aims to decrease non-performing loans to 10% by January 1 2016.
China's bank lending surged in March from the previous month, the central bank said Tuesday, but analysts dismissed the possibility of monetary easing.
Kazakhstani banks have reduced their external debt by $2.4billion.
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%.
TAIB Kazakh Bank has changed its name to Capital Bank Kazakhstan after changing hands.
- Saudi Arabia
- Middle East & Africa
- loan portfolio
- Central Asia
- interest rate
- National Bank
- Small and middle-sized business
- Asian Development Bank
- Nursultan Nazarbayev
- Central Bank
- Asia Pacific
- National Fund