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Banking Industry Country Risk Assessment: Kazakhstan Apr 10
Standard & Poors, April 2010
Abstract
Stronger export revenues fuel positive medium-term prospects for macroeconomic recovery. Government influence over large corporate deposits helps stabilize domestic funding base. Kazakh banks mainly focus on core banking business, rather than speculative operations. The ongoing domestic banking crisis has significantly weakened the industry. Recapitalization and refinancing efforts are insufficient to counterbalance depth of asset-quality erosion. High single-name and industry concentrations and dollarization of operations persist in an insufficiently diverse economy. The banks are exposed to weak enterprise risk management and corporate governance. There is an uneven track record of supervisory bodies in a challenging operating environment. Standard & Poor's Rating Services' Banking Industry Country Risk Assessment (BICRA) classifies the banking system of the Republic of Kazakhstan in Group 9 (out...
Companies mentioned in this report are: Kazkommertsbank (JSC),Halyk Savings Bank of Kazakhstan,JSC AsiaCredit Bank,BTA Bank J.S.C.,JSC Nurbank,Development Bank of Kazakhstan,Tsesna Bank,Alliance Bank JSC,JSC Eurasian Bank,Temirbank JSC,KazInvestBank
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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