business and economy

Banking sector stagnant in 2010 - BTA head

By SRI ⋅ January 27, 2010 ⋅  Email This Post ⋅  Print This Post ⋅ Post a comment

(SRI) - Kazakh banks are unlikely to show significant asset growth and improvement of their credit portfolios this year, BTA Bank CEO Anvar Saidenov told financial news portal profinance.kz.

“This year will be difficult for our banking system. The problems that the banks have been combating the last two years cannot be solved overnight,” Saidenov said.

International capital markets will remain inaccessible to most banks, according to Saidenov.

“For local banks, [2010] will be a year of internal housecleaning,” Saidenov said, noting that most banks are likely to spend the year solving problems with their loan portfolios. “In 2011, I expect the revival of the Kazakh banking system, in terms of asset and credit growth.”

Tags: banking, economy

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