Clearing banks' loan portfolios from the "bad" assets is unlikely in Kazakhstan in 2015 - Fitch

Almaty. December 12. Silkroadnews - In Kazakhstan in 2015, clearing the loan portfolios of stress assets in banks is unlikely due to the limited size of the JSC "Fund of problem loans", said the international rating agency Fitch Ratings.
"Clearing the loan portfolios is unlikely due to the limited size of the Fund of bad loans, and banks are likely to be the transfer of credits in captive companies to comply with the target levels of problem loans at the end of 2015", - stated in the information disseminated on Friday.
At the same time, as noted in Fitch, indicators of banks remain constrained due to limited new business and further provisioning for bad loans from prior periods.
In general, according to the rating agency analysts, economic growth should remain well in Kazakhstan in 2015, supporting a stable outlook for the banking sector, despite the impact of negative factors associated with Russia, lower oil prices and the devaluation of the tenge.