Monday, February 13, 2006

Societe General to start consumer lending in Kazakhstan.

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Societe General to start consumer lending in Kazakhstan. According to some sources French Bank Societe Generale plans to open subsidiary in Kazakhstan , which will provide consumer lending services. The unit will start its operations in a few months. Providing loans for car and other consumer goods purchases will be main task of the subsidiary. Currently, only Czech PPF financial group which started its operation last month provides retail lending. The subsidiaries of such foreign banks as ABN Amro, Citigroup, and HSBC provide limited range of services. Retail market is growing rapidly in Kazakhstan .

Securitisation is not dead

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Societe General to start consumer lending in Kazakhstan.

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