banking
ANALYSIS: Kazakhstan first in, first out of crisis
(bne) - Predictions that Kazakhstan would be first in, first out of the crisis have proved to be not far from the truth. The rise in commodity prices over the last year has boosted the natural resources sector, which has in turn dragged the rest of the economy, including the banking sector, along with it.
ANALYSIS: BTA back from brink but still has legacy issues
(bne) - With its $11-billionn debt restructuring agreed, BTA Bank, once Kazakhstan’s largest lender, is set to resume its position as a serious competitive force within the sector.
Bank lending slightly down in H1 - central bank
(SRI) - Bank lending in Kazakhstan decreased in the first half of 2010 by 2.2% to KZT7.476 trillion ($50.9 billion), the National Bank of Kazakhstan said on Thursday.
ANALYSIS: Bank lending lags Kazakh recovery
(bne) - Kazakhstan’s economic growth is accelerating, though bank lending is continuing to lag the recovery and the volume of loans this year will be almost half of what it was expected to be, according to a new report from VTB Capital.
Negative outlook for Kazakhstan’s banking system maintained - Moody’s
(Moody’s) - The negative outlook for credit conditions in Kazakhstan’s banking system is maintained based on the poor provisioning and undercapitalization of the Kazakh banks, their subdued loan origination and lack of access to the wholesale capital markets, Moody’s Investors Service said.
ANALYSIS: Halyk predicts growing competition in Kazakh bank sector
(bne) - While Kazakhstan’s other big banks floundered, Halyk Bank came through the financial crisis in relatively good shape and accounted for the lion’s share of banking sector profits in the first quarter of this year.
HSBC to buy RBS Kazakhstan retail assets for $52 million
(SRI) - HSBC Holdings PLC, the global banking group, has agreed to acquire the retail banking assets of RBS Kazakhstan for up to $52 million in cash, HSBC said in a statement.
IMF ups growth forecast
(SRI) - The International Monetary Fund (IMF) has revised the 2010 growth forecast for the Kazakh economy in 2010 to 4 percent from 2.4 percent but warned that Kazakhstan’s financial sector remains a cause for concern.
ANALYSIS: Kazakhstan bounces back but banks remain a worry
(bne) - Confident in the revival of the Kazakh economy on the back of rising commodity prices and strong government support, the mood among delegates at the Annual Fitch Ratings Conference on Kazakhstan was optimistic, despite lingering worries about the banking sector.
Halyk considering bidding for BTA Bank - CEO
(SRI) - Halyk Bank, Kazakhstan’s second largest bank, may bid for defaulted BTA Bank, CEO Umut Shayakhmetova told Bloomberg on Tuesday.
