Fitch: Kazakh Banks' Legacy and Emerging Risks Captured In Low Ratings

April 13, 2015 9:11 AM

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(The following statement was released by the rating agency) Link to Fitch Ratings' Report: Kazakh Banks: Legacy and Emergin Risks Captured in Low Ratings here MOSCOW, April 13 (Fitch) Kazakh banks' low ratings already capture the risks arising from sizable legacy asset quality problems and emerging challenges stemming from the fall in oil prices and potential tenge devaluation, Fitch Ratings said at its ninth annual conference on Kazakhstan in Almaty.

Most Kazakh banks' ratings continue to be in the low 'B' category, with the exception of Halyk Bank of Kazakhstan (BB/Stable/bb). The ratings chiefly reflect significant volumes of underserved impaired loans, limited loss absorption capacity and - at some banks - weak operating profitability. The op...

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