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.
Several Kazakh banks cease issuing mortgage loans in tenge
Several Kazakhstan’s banks have ceased issuing mortgage loans in tenge.
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.
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.
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 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.
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.
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.
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.
Kazakhstani banks reduce external debt by $2.4 billion
Kazakhstani banks have reduced their external debt by $2.4billion.
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%.
TAIB Bank changes name to Capital Bank
TAIB Kazakh Bank has changed its name to Capital Bank Kazakhstan after changing hands.
Central Bank toughens requirements to borrowers
Earlier Kazakhstan’s President Nursultan Nazarbayev commissioned banks’ heads to reduce the share of NPLs “in any possible ways” to 15% of their portfolio by 2015 and further to 10% by 2016.
Kazakhstan PM pledges to solve the issue of NPLs within two years
There are 38 banks operating in Kazakhstan (…) Maybe the economy only needs 10 banks: Serik Akhmetov.
BTA suspends lending operations in the wake of 20% currency devaluation
According to the Bank, suspension of consumer lending and mortgage program is a temporary measure.
EIB gives 100 million Euro to Sberbank for SMBs in Kazakhstan
The European Investment Bank (EIB) and Sberbank offer new opportunities for small and mid-sized business of Kazakhstan.
Kazakhstan National Fund allocates $5.4 billion to support economy
After the devaluation of tenge by 19% earlier this week, the National Fund of Kazakhstan decided to allocate $5.4 billion to support local business.
President Nazarbayev on NPLs
As of December 1, 2013 NPLs stood at 31.4% of the overall banks’ portfolio, 19.7% up against the start of 2013.
Kazakhstan Central Bank Governor on consumer loan rates and NPLs
Kazakhstan Central Bank is negotiating with second-tier banks to reduce the NPLs figure down to 15% by January 1, 2015 from the current 35.8%.
Japan PM to visit Africa, Mideast with cash pledge: reports
Japanese Prime Minister Shinzo Abe will visit Africa and the Middle East this week, reports said Monday, bearing development cash pledges as Tokyo pushes back against growing Chinese influence in the resource-rich region.
