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Bank Industry Risk Analysis: Kazakhstan (Republic of) Apr 06
Standard & Poors, April 2006
Abstract
Current favorable macroeconomic environment and growth prospects; Fairly good regulatory basis, although further improvements are needed; Banks' growing business diversification, especially into retail banking; Adequate profitability, albeit dependent on continued business growth; and Larger banks' good access to international capital markets, which has lengthened funding tenures. Small and concentrated economy, vulnerable to external shocks and changes in commodity prices; Risks related to nontransparent and concentrated ownership; Banks' capitalization under strain given very fast balance sheet growth; Considerable growth in lending, which is untested by economic or political shocks through a full economic cycle; and High concentrations in lending and funding. Kazakh banks are entering a critical period in their development. The continued favorable macroeconomic environment in the Republic of Kazakhstan...
Companies mentioned in this report are: HSBC Bank PLC,The Royal Bank of Scotland N.V.,Societe Generale,OJSC Alfa-Bank,Kazkommertsbank (JSC),Halyk Savings Bank of Kazakhstan,BTA Bank J.S.C.,JSC Nurbank,ATF Bank,Development Bank of Kazakhstan,Tsesna Bank,Kazpost (JSC),Mortgage Guarantee Fund of Kazakhstan (JSC)
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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