- ID: 1787034
- November 2002
- Standard & Poors
The ratings on Kazakhstan-based Kazkommertsbank (JSC) (KKB) reflect the improving economic climate and improved diversification in the bank's lending and funding. KKB has been using Kazakhstan's improved economic prospects to its advantage, attracting primary funds and growing its profitable lending business. The reversal of the bank's policy on financing the equity investments of its sister company, Central Asian Industrial Investments (CAII), should improve KKB's credit profile. KKB also resolved its two largest problematic related party loans with CAII and Air Kazakhstan, which reduced the concentration of its loan portfolio to single-party risk, as well as improving asset quality. Although the Kazakh economy has been showing positive trends since 2000, the bank retains significant concentrations in loans and funding in a...
Companies mentioned in this report are: Kazkommertsbank (JSC)
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