Baiterek Holding presented banks with measures to stimulate crediting

Baiterek Holding presented banks with measures to stimulate crediting

The Agency for the Regulation and Development of the Financial Market held an online discussion of measures to boost crediting. Representatives of Baiterek Holding, Development Bank of Kazakhstan, the Association of Financiers of Kazakhstan, and second-tier banks took part in the meeting.

Adil Mukhamedzhanov, Deputy Chairman of the Management Board of Baiterek Holding, spoke about the current situation in the crediting market and presented the measures to stimulate crediting.

In order to promote alternative forms of crediting, we propose to use such forms of financing as syndicated crediting and joint financing. The legal basis for the implementation of such transactions has already been developed, – said Adil Mukhamedzhanov.

Dastan Akhmetov, the Managing Director of the Development Bank of Kazakhstan, told the meeting participants about the mechanisms for expanding guarantees and developing securitization.

The portfolio of the Development Bank of Kazakhstan, the Holding's subsidiary, has been growing steadily. Almost every second tenge allocated for long-term lending to non-resource sectors of the economy is financed by DBK. In the beginning of this year, the volume of DBK's portfolio amounted to almost 1.9 trillion tenge, which is 51% of the total amount of long-term loans issued by second-tier banks to non-resource sectors.

In the end of the meeting, representatives of the banking community expressed interest in a more detailed discussion of the measures proposed by the Baiterek Holding.

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