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Bank Industry Risk Analysis: Kazakhstan
Standard & Poors, Aug 1999
Abstract
Although its economic and industry risks remain among the highest of any emerging market in the world, Kazakhstan's banking system stands as a relative oasis in the arid desert of the Commonwealth of Independent States' (CIS) parched and stunted banking system. The past 12 months have been tumultuous for Kazakhstan's banks, since they have had to contend with the impact of the crisis in Russia and its rapidly depreciating currency on their exporter clients; low commodity prices, which especially hit the country's key hydrocarbon producers; international investors' nervousness about emerging markets in general and the CIS in particular, which has limited their external funding options; and finally about a 60% devaluation in the Kazak currency, the tenge (KZT), which has...
Companies mentioned in this report are: Kazakhstan (Republic of),Kazkommertsbank (JSC),Halyk Savings Bank of Kazakhstan
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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