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Bank Industry Risk Analysis: Kazakhstan (Republic of) May 02
Standard & Poors, May 2002
Abstract
Although its economic and industry risks remain among the highest of any emerging market in the world, the Republic of Kazakhstan's (local currency BB+/Stable/B, foreign currency BB/Stable/B) banking system is several steps ahead of the underdeveloped banking systems of other members of the Commonwealth of Independent States (CIS). The Kazakh banking system has been experiencing enhanced activity on the back of the economic revival since mid-2000. This is enhanced by increased liquidity entering the system as confidence in the banking system improves. Kazakh exports continue to benefit from the weak Kazakh tenge and high commodity prices, which particularly affect the country's key hydrocarbon producers. These factors, which support the Kazakh economic recovery, could easily be reversed, however. Furthermore, with a...
Companies mentioned in this report are: Raiffeisen Zentralbank Oesterreich AG,European Bank for Reconstruction and Development,Kazakhstan (Republic of),Kazkommertsbank (JSC),Halyk Savings Bank of Kazakhstan,Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V.,BTA Bank J.S.C.,Kazakhtelecom (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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