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Financial Services Report Kazakhstan Product Image

Financial Services Report Kazakhstan

  • ID: 2139178
  • May 2014
  • Region: Kazakhstan
  • 19 Pages
  • The Economist Intelligence Unit

The Kazakh financial services sector was severely hit by the global economic and financial crisis of 2008-09. The country's commercial banking system, which until August 2007 had experienced a period of massive expansion, was one of the first in the world to experience the credit crunch, owing to its exposure to international capital markets. Despite ongoing restructuring of the banking sector, the proportion of bad loans remains extremely high.

Lending recovered in 2011, after nearly two years of stagnation in the wake of the global financial crisis. Consumer lending expanded rapidly in 2013, despite ongoing uncertainty regarding the underlying health of the Kazakh banking system.

Three of the four financial institutions that defaulted on their principal debt repayments completed debt restructuring in 2010. However, BTA Bank then defaulted on its debt for a second time in January 2012. Although BTA Bank successfully completed a second debt restructuring in December 2012, uncertainty remains over the stability of the banking sector, which remains vulnerable to external shocks.

Industry List: Asset management, Financial Services, Banking, Financial Services, Financial markets and instruments, Financial Services, Financial regulation, Financial Services, Financial Services, Financial Services, Insurance
Industry Codes (NAIC): 52
Industry Codes (SIC): 60

Financial Services Report Kazakhstan

Financial services report
Overview

Banks

Insurers

Asset managers

Financial markets and instruments

Financial regulation
Overview
Regulatory watchlist

Monetary and currency policy: Monetary policy

Monetary and currency policy: Exchange rates

Kazakhstan at a glance
Political structure
Sovereign debt rating*

Fundamental indicators

Key contacts

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