S&P upgrades industry risk score of Kazakhstan’s banking system
2012-04-05 17:59:39
Banking Industry Country Risk Assessment or BICRA reflects the strengths and weaknesses of the banking system of a country in comparison with the banking systems of other countries.
Standard & Poor’s Ratings Services has upgraded the Banking Industry Country Risk Assessment on Kazakhstan, KazTAG reports citing the agency. The republic still belongs to Group 8 according to the classification of risks, but the assessment of industry risk was raised up a notch by analysts. In accordance with the Standard & Poor’s classification, countries are divided into 10 groups depending on the level of risk in their banking systems, while the countries with the lowest risks included in Group 1 and countries with the largest in Group 10. Kazakhstan currently has 38 second-tier banks. Their total assets amount to almost 12 billion tenge and the total estimated net worth of the banking sector is about 2 trillion tenge.