Baku, Azerbaijan, Feb. 10
By Ali Mustafayev – Trend:
Kazakhstan’s state holdings and quasi-public companies have over 7.2 trillion tenge on their bank accounts, in 2010 the amount of money on the accounts of such organizations was amounting to 2.5 trillion tenge, which means a 3 times growth, Chairman of the National Bank of Kazakhstan Daniyar Akishev said at government’s meeting.
He added that the share of such funds in the banks' liabilities increased from 20 percent to 34 percent.
“As a result, many medium-sized banks became large, small ones turned into medium ones. This is a normal growth process if it is built on differentiated sources of funding and is accompanied by a reasonable approach to the use of attracted money," Akishev said.
He also stressed that the activities of some Kazakh banks in 2017 demonstrated the lack of such an approach.
"Almost 100 percent of loans of the Deltabank, which is deprived of license, was accounted for the companies controlled by the bank's shareholder. This was not reflected in the bank's accounts, and it was revealed only as a result of the audit. Sixty percent of the obligations of this bank accounted for quasi-public structures. In the RBK Bank, 90 percent of loans were issued to four borrowers, who are either shareholders of the bank or related persons," Akishev said.
Akishev said that such approach ignores the procedures for assessing borrowers, using a preferential rate with no fixed liens.
(Currency rate for 10.02.2018: $1 - 327 tenge)