Kazakh Banks Had $17.2 Billion Loss Through Sept. 1, Agency Says

Sept. 21. Bloomberg

By Nariman Gizitdinov

Kazakhstan’s 37 banks had a loss of 2.6 trillion tenge ($17.2 billion) in the year through Sept. 1 as they increased provisions against bad loans, the Agency for Financial Supervision said on its Web site.

Kazakh banks had bad-loan provisions of 3.5 trillion tenge as of Sept. 1, equivalent to 34.4 percent of their total loan portfolios, the agency said on Sept. 19.

BTA Bank and London-traded Alliance Bank accounted for 2.3 trillion tenge of total bank provisions, the agency said.